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Author Question: The diagram below shows the MRP curve for a firm producing copper plumbing pipe. The factor of ... (Read 53 times)

Triley39

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The diagram below shows the MRP curve for a firm producing copper plumbing pipe. The factor of production being considered here is hours of labour.



FIGURE 13-1

Refer to Figure 13-1. Suppose this firm initially has the marginal revenue product curve MRP1. One reason that the curve could shift to MRP2 is


◦ an improvement in workers' productivity.
◦ a decrease in demand for the firm's output, copper plumbing pipe.
◦ an increase in the wage rate.
◦ an increase in the supply of labour.
◦ a decrease in the wage rate.


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Marked as best answer by Triley39 on Oct 12, 2022

dude123

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Triley39

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Reply 2 on: Oct 12, 2022
:D TYSM


irishcancer18

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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