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Study Notes

Marginal Revenue Product of Labour (Labour Markets)

Level:: A-Level, IB Diploma

Board:: AQA, Edexcel, Eduqas, IB, OCR, WJEC

Last updated 2 Jul 2018

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The demand curve for labour tells us how many workers a business will employ at a given wage rate in a given time period. In the theory of competitive labour markets, the demand curve for labour comes from the estimated marginal revenue product of labour (MRPL)

Marginal Revenue Product - revision video

Test your knowledge - Marginal Revenue Product MCQ Revision Video

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