The diagram below shows the MRP curve for a firm producing copper plumbing pipe.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 copper plumbing pipe.
B)demand curve for labour.
C)total product curve for labour.
D)marginal product of labour curve.
E)derived demand for copper plumbing pipe.

Question

The diagram below shows the MRP curve for a firm producing copper plumbing pipe.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 copper plumbing pipe. 
B)demand curve for labour. 
C)total product curve for labour. 
D)marginal product of labour curve. 
E)derived demand for copper plumbing pipe.

Quizplus · Accepted Answer

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

The Diagram Below Shows the MRP Curve for a Firm