Example: tourism industry
PRINCIPLES OF MICROECONOMICS NOTES [For Class Test 1]
PRINCIPLES OF MICROECONOMICS, UPNG, SEMESTER 1, 2016 MRP L > w The firm should hire more workers to increase profits MRP L < w The firm should hire fewer workers to increase profits MRP L = w The is hiring the optimal number of workers and is maximising profits Shifts in demand for labour are caused by: • Changes in human capital ...
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