General Automobiles owns a large car manufacturing plant and is the only employer in town. Which of the following describes how General Automobiles makes hiring and wage decisions? O In order to hire more workers, General Automobiles must lower the wage it pays O General Automobiles hires the quantity of labor where its marginal resource cost is greater than its marginal revenue product and pays labor the minimum wage O General Automobiles hires the quantity of labor where its marginal resource cost is equal to its marginal revenue product but pays a wage that is based on the supply of labor at that quantity O General Automobiles hores the quantity of labor where its marginal resource cost is less than its marginal revenue product and pays labor the minimum wage O General Automobiles is a wage taker and hires the quantity of labor where its marginal resource cost is equal its marginal revenue product
