A perfectly competitive firm is currently producing at the profit-maximizing output level. If the marginal physical product of labor is 10 units per hour and the firm pays a wage rate of $8 per hour, which of the following is trueA) The marginal revenue product of labor is $80. (B) The marginal cost is $1.25. C) The average total cost is $0.80 per unit. (D) The output price is $0.80 per unit. E) The output price is $1.25 per unit.
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