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1 pts The area underneath a firms labor demand curve and above the market wage is the graphical representation of the firms O costs. O profits O hiring decisions. Olosses revenues
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Answer #1

Profits. The area underneath the firm's labor demand curve of marginal productivity curve and above the market wage rate represents the firm's profits. This is because marginal productivity of labor is higher than the wage rate at the level of the output produced and thus profits of the firm are been represented.

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