Factor of Production Hiring Rule

Tags: #Economics #Microeconomics

Equation

$$\text{MRP} = \text{MFC}$$

Latex Code

                                 \text{MRP} = \text{MFC}

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Introduction

Equation



Latex Code

            \text{MRP} = \text{MFC}

Explanation

Latex code for Factor of Production Hiring Rule. I will briefly introduce the notations in this formulation.

  • : Marginal revenue product
  • : Marginal factor cost (MFC)

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