Economics 9708 · AS & A Level · Long-run costs and economies of scale

Long-run costs and economies of scale — practice question

Economics textbooks explain that, under imperfect competition, labour is a derived demand for a firm. In what way is the labour demand curve derived?

  • Aby multiplying the average physical product by the average revenue
  • Bby multiplying the average physical product by the marginal revenue
  • Cby multiplying the marginal physical product by the marginal cost
  • Dby multiplying the marginal physical product by the marginal revenue

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