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Which of the following is TRUE for the marginal resource cost curve of a firm which hires resources in perfectly competitive resource market?

A

The marginal resource cost curve is sloping upwards.

B

The marginal resource cost curve is sloping downwards.

C

The marginal resource cost curve is perfectly inelastic.

D

The marginal resource cost curve is perfectly elastic.

E

The marginal resource cost is above the wage.

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