Optimal Labor Usage: Marginal Revenue Product = Wage

[@salehbhatti9611]

Quality videos man, saving me through my econ course

[@EconomicsinManyLessons]

That is great news!

[@Hidole555]

THANK YOU!!!!!!!

[@DietaryFiber1018]

Hello, I am a student from Taiwan. May I ask how to represent the Employer surplus and Worker surplus on a graph when the commodity market is a monopoly (VMP>MRP) and the labor market is perfectly competitive (MFC=AFC)? Thank you.

[@nkululekotutani]

THANKS

[@maredelioglu8624]

father, great.

[@awakcomel1705]

can i know what’s the MRPL

[@EconomicsinManyLessons]

It represents the marginal revenue product of labor...the increase in total revenue from hiring one more worker.

[@sakshamchowdhary1841]

Apply law of variable proportions

[@abdallahaji16]

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