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Marginal revenue product and marginal resource cost

When a monopolist maximizes the profit in a product market, it will: (i) Hire labor till the marginal revenue product equivalents marginal resource cost. (ii) Hire labor till the value of marginal product equivalents marginal resource cost. (iii) Pay a wage equivalent to the value of marginal product of labor. (iv) Not capable to exploit the labor.

Choose the right answer from the above options.

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