2. Define marginal physical product of labor (MPP) and marginal cost of product (MC). How are these two related? Why is MC called the mirror image of MPP? Explain (type answer and descripe with grph)

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Chapter11: The Firm: Production And Costs
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2. Define marginal physical product of labor (MPP) and marginal cost of product (MC). How are these two
related? Why is MC called the mirror image of MPP? Explain ( type answer and descripe with grph)
Transcribed Image Text:2. Define marginal physical product of labor (MPP) and marginal cost of product (MC). How are these two related? Why is MC called the mirror image of MPP? Explain ( type answer and descripe with grph)
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