The diagram below shows the MRP curve for a firm producing high school math textbooks. The factor of production being considered here is hours of labour. FIGURE 13- 2
-Refer to Figure 13- 2. This firm's MRP curve is the firm's
A) market demand curve for textbooks.
B) total product curve for labour.
C) marginal product of labour curve.
D) derived demand for textbooks.
E) demand curve for labour.

Question

The diagram below shows the MRP curve for a firm producing high school math textbooks. The factor of production being considered here is hours of labour.  FIGURE 13- 2
-Refer to Figure 13- 2. This firm's MRP curve is the firm's
A) market demand curve for textbooks. 
B) total product curve for labour. 
C) marginal product of labour curve. 
D) derived demand for textbooks. 
E) demand curve for labour.

Quizplus · Accepted Answer

The MRP (Marginal Revenue Product) curve represents the additional revenue generated by employing one more unit of labor, which is essentially the firm's demand curve for labor.

The Diagram Below Shows the MRP Curve for a Firm