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Author Question: The diagram below shows the MRP curve for a firm producing copper plumbing pipe. The factor of ... (Read 96 times)

Gabby

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on: Oct 12, 2022

Question 1

Consider a firm's demand curve for labour. If a technological change makes it harder to substitute capital for labour, the demand curve for labour
◦ becomes more elastic.
◦ becomes less elastic.
◦ shifts parallel to the left.
◦ shifts parallel to the right.
◦ is not affected.

Question 2

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. Assume that the firm is a perfect competitor and the price of the firm's output is fixed. We know that the firm's MRP curve is


◦ horizontal, if the firm is perfectly competitive.
◦ steeper than the firm's marginal product curve for labour.
◦ the same shape as the firm's marginal product curve for labour.
◦ the same shape as the firm's marginal revenue curve.
◦ flatter than the firm's marginal product curve for labour.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by Gabby on Oct 12, 2022

delmiss

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Gabby

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

olderstudent

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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