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- What determines the demand for labor for a firm operating in a perfectly competitive output market?What determines the demand for labor for a firm with market power in the output market?In a monopsony labor market, a profit-maximizing firm hires workers until. O the value of the marginal revenue product equals the wage. O the value of the marginal revenue product equals marginal cost. O the value of the marginal revenue product equals zero O the value of the marginal revenue product equals the marginal factor cost.
