The demand curve for labor at a single firm is the same as the firm's marginal
A) physical product curve
B) cost curve
C) revenue product curve

Question

Quizplus · Accepted Answer

The demand curve for labor at a single firm is the same as the firm's revenue product curve because the firm's demand for labor is determined by the marginal revenue product of labor, which is the additional revenue generated by hiring one additional unit of labor. This is represented by the firm's revenue product curve. The marginal physical product curve represents the additional physical output generated by hiring one additional unit of labor, while the cost curve represents the firm's costs of production.

The Demand Curve for Labor at a Single Firm Is