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10 questions from this quiz
Households supply, firms demand labour
Firms demand labour to produce goods consumers want
It eventually falls due to diminishing returns
MPPLMPP_LMPPL multiplied by price
The firm's demand curve for labour
When MRPLMRP_LMRPL equals the wage rate
Changes in labour productivity
Shifts it to the left
When labour costs are small % of total costs
−50%-50\%−50%
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