Explain how the following events would affect the demand for labor. a. A new education program administered
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Explain how the following events would affect the demand for labor.
a. A new education program administered by the company increases labor's marginal product.
b. The firm completes a new plant with a larger workspace and new machinery that workers can utilize and that does not substitute for the func- tions provided by workers' labor.
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a A New Education Program Increases Labors Marginal Product In economics the marginal product of labor refers to the increase in output or production ...View the full answer
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