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How is marginal revenue product for labor found

Question # 00541691
Subject: Economics
Due on: 06/07/2017
Posted On: 06/07/2017 02:28 AM

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1. How is marginal revenue product for labor found and is there a simplier and easier method to find it other than the formula given on page 230?

2. What factors can cause changes in the demand for labor for a firm?

3. What factors determine the elasticity of labor demand?

4. What is a monopsony in labor hiring and what happens to the wage rate paid?

5. What factors causes differences in wages paid to different types of labor?

Discussion: Why are water tower painters paid more than wall painters?

Tags labor product revenue marginal labor paid factors demand painters causes differences wage happens rate different tower wall water discuion hiring types wages elasticity method formula easier simplier revenue product given page determine marginal firm

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How is marginal revenue product for labor found

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