A-LevelEconomicsThe price system and the microeconomy9708/33 · May/June 2018 · Q171 Mark
Economics textbooks state that for a firm in imperfect competition labour is a derived demand. How is the demand curve for labour 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
Mark scheme
Marking points from the official mark scheme (May/June 2018). The mark or mark type is shown in brackets.
- [1] D
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