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FACTORS PRODUCTION - Coggle Diagram
FACTORS PRODUCTION
Demand for labour
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Marginal product of labor (MPL)
- when MPL '0' stop taking workers
- ΔQ/ΔL
Diminishing marginal product
- input declines
- quantity input increase
Value of the marginal product of labour
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Shift labor demand curve
- change in output price
- Technological change
- supply other factors
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Supply for labor
Trade-off
- work vs leisure (duduk rumah/keje)
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