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javielito2000 javielito2000
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A year ago

The diagram below shows the MRP curve for a firm producing copper plumbing pipe. The factor of production being considered here is hours of labour.

Short description: A graph plots units of labour against dollars. Long description: The horizontal axis represents units of labour. The vertical axis represents dollars. The graph plots three curves. Three curves represent M R P subscript 3, M R P subscript 1, and M R P subscript 1. M R P subscript 3 passes through the following points: (80, 16) and (100, 12). M R P subscript 1 passes through the following points: (120, 16) and (140, 12). M R P subscript 2 passes through the following points: (160, 16) and (180, 12).

FIGURE 13-1

Refer to Figure 13-1. Suppose this firm initially has the marginal revenue product curve MRP1. One reason that the curve could shift to MRP2 is



▸ an improvement in workers' productivity.

▸ a decrease in demand for the firm's output, copper plumbing pipe.

▸ an increase in the wage rate.

▸ an increase in the supply of labour.

▸ a decrease in the wage rate.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
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mrivas57mrivas57
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javielito2000 Author
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A year ago
this is exactly what I needed
Butwhy
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Yesterday
Thanks
Shuqin
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2 hours ago
Brilliant ツ
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