Why is the mrp curve the firms short-run labor demand curve

Reference no: EM133536308

Problem I. Explain how marginal revenue product (MRP) is derived? Why is the MRP curve the firm's short-run labor demand curve? Explain how and why the labor demand curves of a perfectly competitive seller and imperfectly competitive seller differ.

Problem II. Go to the Department of Statistics website for aggregate labor force participation, employment and unemployment statistics in Malaysia.

1. What have happened to the aggregate labor force participation rate, employment level and unemployment level in Malaysia over the last twenty years (1982 until 2020)? Illustrate your answers using graphs.

2. Has the participation rate of males increase or decrease during this period? Compare the participation rates of male and female. Explain your answers.

3. In which industry has employment increased the most during this period? In which industry has the employment decreased the most during this period? Suggests a possible explanation for that.

Problem III. The income of B40 families has increased very slowly in the past one and two decades despite a variety of government policies to help the B40 families. One may, therefore, conclude that government programs have failed to reduce the gap between the rich and the poor in this country. Discuss critically. Provide substantial evidence(such as published articles and reliable statistics) to support your arguments.

Reference no: EM133536308

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