An increase in the supply of capital decreases the value of the marginal product of capital, reduces the rental rate of capital, and decreases the value of the marginal product of labour, which reduces the wage of labour.
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Q6: At least some of the difference in
Q7: If there is a difference in wages
Q8: If a factor exhibits diminishing marginal product,
Q9: If there is an increase in the
Q10: The value of the marginal product of
Q12: Competition will tend to eliminate discrimination in
Q13: An increase in the supply of labour
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Q14: What will a decrease in the supply
Q15: Figure 1 Labour (number of workers)
Q16: Figure 1 Labour (number of workers)
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