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.
Small copper, Binigaus, Minorca
copper
brain diagram
Human Skeleton Diagram
Anatomy diagram
Major bone (tan) and cartilage (light blue) elements of the human skeleton. Inset shows regions of v