Constructing a demand curve for an individual firm by thinking about how much increment benefit they get from an incremental employee (marginal product of labor (MPL) and marginal product revenue (MPR). We later think about how we can add these "demand" curves to construct a "demand" curve for the market for labor in this industry.
1 Question Set
Free
Add, modify, and use for free.
A nonprofit with the mission to provide a free, world-class education for anyone, anywhere.
Learn more