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Economics

Study Notes

Marginal Revenue Product of Labour (Labour Markets)

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

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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