Principles of Economics, 7th Edition

Published by South-Western College
ISBN 10: 128516587X
ISBN 13: 978-1-28516-587-5

Chapter 18 - Part VI - The Markets for the Factors of Production - Quick Check Multiple Choice - Page 391: 2

Answer

b) the value of the marginal product of labor

Work Step by Step

If firms are competitive and profit-maximizing, the demand curve for labor is determined by the value of the marginal product of labor.
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