A perfectly competitive firm will hire labor as long as the marginal revenue product of labor is

A) less than the going wage.
B) equal to the going wage.
C) greater than the going wage.
D) zero.

Marginal Revenue Product

The extra income produced by using an additional unit of a resource, such as manpower or investment.

Going Wage

The prevailing wage level for a given job in a specific market or industry, often determined by the balance of supply and demand for labor.

Labor

The deployment of human physical and cognitive efforts towards the creation of goods and the provision of services.