
-Refer to the above figure. The firm is operating using MRP0. An increase in productivity has occurred. The relevant curve for the firm after the increase in productivity
A) is MRP0.
B) is MRP1.
C) is MRP2.
D) could be MRP1 or MRP2 depending upon whether the firm was earning a positive profit.
Correct Answer:
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Q101: An increase in the marginal factor cost
Q102: An increase in product price implies that
A)
Q103: Q104: The demand curve for labor will shift Q105: A firm's demand curve for labor is Q107: The downward sloping marginal revenue product of Q108: Marginal revenue product is Q109: Sam, who owns a carpentry shop, discovered Q110: The change in output resulting from the Q111: ![]()
A) marginal physical product![]()
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