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what is a labour related theory
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- What shapes would you generally expect a total product curve and a marginal product curve to have?What accounts for the backward bending Labour supply curve?Use a graph to illustrate and explain the individual supply of labour curve. In youranswer, describe the forces that determine the form (shape) of the individualsupply of labour curve.
- Economic As I hire more and more workers – one, two, then three – what happens to the marginal product of labor?Explain labour demand in short with a diagram.The diagram below shows an agricultural production function. 900- 800- 700- 600- 500- 400- 300- 200- 100- 400 800 1200 1600 2000 2400 2800 Number of farmers Kilogrammes of grain produced (thousands)