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Answer to Question #297337 in Microeconomics for shan

Question #297337

Explain why the Marginal Revenue Product of Labour curve for a firm that competes for labour in the factor market is also the firm's demand curve for labour.


1
Expert's answer
2022-02-14T14:53:47-0500

Marginal revenue product of labour is the additional income that a firm earns from hiring an extra additional worker which will be determined by the Market demand and supply of labour.


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