Asked by
pooja sangaraju
on Dec 08, 2024
Verified
If product demand decreases and product price decreases,
A) the marginal revenue product curve will shift to the right.
B) the marginal revenue product curve will shift to the left.
C) the firm will move down the marginal revenue product curve and hire more units of the input.
D) the firm will move up the marginal revenue product curve and hire fewer units of the input.
Marginal Revenue Product Curve
A graphical representation showing how the additional revenue generated by employing one more unit of a resource varies with the quantity of the resource employed.
- Evaluate the repercussion of alterations in product demand and technology on the marginal revenue product of labor and the consequent impact on labor demand.
Verified Answer
YP
Learning Objectives
- Evaluate the repercussion of alterations in product demand and technology on the marginal revenue product of labor and the consequent impact on labor demand.
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