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Exhibit 13-2
-Refer to Exhibit 13-2. The MRP curve for labor for the competitive firm is negatively sloped because
After-Tax Cost
The actual cost of an expense or investment after accounting for the effects of taxes.
Pretax Cost
The expense or cost incurred by a business before the deduction of taxes.
Debt
Money owed by one party to another, under conditions of repayment often including interest.
Book Value
The net value of a company's assets minus its liabilities, often used to assess a company's worth from a financial statement perspective.
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