Technological improvement (e.g., better capital equipment) will result in a leftward shift of the marginal revenue product of labor.

Name: Technological improvement (e.g., better capital equipment) will result in a leftward shift of the marginal revenue product of labor.
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Technological improvement typically increases the productivity of labor, leading to a rightward shift in the marginal revenue product of labor curve, as each unit of labor can produce more output.

Technological Improvement (E