Asked by
Dominic Salenga
on Nov 29, 2024
Verified
A decrease in economic rent would cause
A) an increase in the MRP schedule of labor.
B) a decrease in the MRP schedule of labor.
C) a change in the MRP schedule of labor.
Economic Rent
Income derived from the ownership of a unique asset or a situation, where no actual work is done to earn it.
MRP Schedule
A chart or table that shows the marginal revenue product of labor, detailing how changes in the quantity of labor employed will impact total revenue generated.
- Determine the elements that influence a company's need for labor.
Verified Answer
BC
Learning Objectives
- Determine the elements that influence a company's need for labor.