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Marginal Revenue Product of Labour (MRPL) I A Level and IB Economics
Автор: tutor2u
Загружено: 2017-01-03
Просмотров: 66468
Описание:
Marginal revenue product of labour (MRPL) is the extra revenue generated when an additional worker is employed.
The formula for MRPL = marginal product of labour x marginal revenue.
The demand curve for labour tells us how many workers a business will employ at a given wage rate in a given time period
In the theory of competitive labour markets, the demand curve for labour comes from the estimated marginal revenue product of labour (MRPL)
#aqaeconomics #ibeconomics #edexceleconomics
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