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ECS1501-25-Y Topics 12 -15
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Look at the figure below and then indicate whether the statement is True (T) or False (F):
The firm’s supply curve starts at price R20 and Q1.
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If the wage rate is below the equilibrium level, then
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If MPP is increasing, what happens to MRP, assuming a constant product price?
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The demand curve for labour is downward sloping because
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In the backward-bending individual labour supply curve, the upward-sloping part reflects:
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What does the labour supply curve show?
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If the wage rate is above the equilibrium level
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The market supply curve of labour has a positive slope.
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