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  • 12-02-2021
  • Business
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Briefly explain how the demand curve for workers is determined.

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Аноним Аноним
  • 12-02-2021

Answer:

When the marginal revenue product of labor is graphed, it represents the firm's labor demand curve. The demand curve is downward sloping due to the law of diminishing returns; as more workers are hired, the marginal product of labor begins declining, causing the marginal revenue product of labor to fall as well.

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