The Diagram Below Shows the MRP Curve for a Firm

question 83

Multiple Choice

The diagram below shows the MRP curve for a firm producing copper plumbing pipe.The factor of production being considered here is hours of labour. FIGURE 13-1
-Refer to Figure 13-1.Assume that the firm is a perfect competitor and the price of the firm's output is fixed.We know that the firm's MRP curve is

• A)the same shape as the firm's marginal product curve for labour.
• B)the same shape as the firm's marginal revenue curve.
• C)horizontal,if the firm is perfectly competitive.
• D)steeper than the firm's marginal product curve for labour.
• E)flatter than the firm's marginal product curve for labour.

---

Definitions:

Communicate

The process of transmitting information, ideas, emotions, skills, or knowledge from one individual or group to another through various means, verbal or non-verbal.

Estrogens

a group of steroid hormones that play a key role in the development and functioning of female reproductive tissues and secondary sexual characteristics.

Peak

The highest point or maximum level of something, often referring to the top of a mountain or the highest level of achievement or performance.

Ovulation

Ovulation is the phase of a female's menstrual cycle during which a mature egg is released from the ovary, making it available for fertilization by sperm.