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Labour

QuestionAnswer
Factors affecting supply of labour 1. wage rates/ welfare 2. taxation 3. migration 4. participation rate
Factors affecting demand for labour 1. MRP 2. State of technology 3. Cost of other raw materials 4. wage rates 5. State subsidies
Factors affecting MRP 1. MPP 2. Price charged 3. Law of demand
Factors affecting MPP 1. Innate ability 2. Training/ education 3. Law of diminishing marginal returns
Created by: 1801068583361003
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