Exam (elaborations)
AQA Economics - Paper 1 - The Labour Market | Questions with 100% correct answers | verified
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What is the marginal productivity theory? - Says that demand for any factor of production depends on its MRP MRP (marginal revenue product) is what? - extra revenue gained from employing one more worker What is the marginal cost (MC) of labour? - the cost of employing another worker. Equal to th...
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