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Title: A reason why a perfectly competitive firm's demand for labor curve slopes downward is that Post by: baileymeredith on Oct 10, 2019 A reason why a perfectly competitive firm's demand for labor curve slopes downward is that ▸ each additional unit of labor hired is less efficient than previously hired units. ▸ the extra cost of hiring additional units of labor increases as a firm hires more units of labor. ▸ in the short run, as more labor is hired, labor's marginal product falls because of the law of diminishing returns. ▸ the firm's demand curve for the product that uses labor is downward sloping. Title: A reason why a perfectly competitive firm's demand for labor curve slopes downward is that Post by: shamanie on Oct 10, 2019 Content hidden
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