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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

The demand for labor is a derived demand. What could cause a firm’s demand curve for labor to shift rightward?

To determine

The factors that shift the labor demand curve rightward.

Explanation

MRP (marginal revenue product) of a firm is the factor demand curve of that firm, which can be represented by multiplying marginal product (MP) and marginal revenue (MR) of the firm. For a perfect competitive market, MR is equal to price. The change in MRP and change in MP causes a rightward shift of the labor demand curve...

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