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Question
All of the following statements regarding the marginal revenue product (MRP) curve and the demand for labor are true EXCEPT
A) an individual firmʹs demand for labor is its MRP curve.
B) under conditions of perfect competition, MRP equals marginal physical product multiplied by the productʹs price.
C) an increase in the market demand for a given product decreases the productʹs price.
D) the demand for labor is a derived demand.
Answer
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Related questions
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