What does this tell you about the magnitude of the marginal revenue product of labor relative to the wage that the firm is currently paying its workers?

Conduct a literature search in the Cumulative Index of Nursing and Allied Health Literature (CINAHL) using the terms middle range theory, mid-range theory, and nursing. Select one of the articles where the development of the middle range theory is the major focus of the paper. Share the article citation and describe how the theory was developed. A hospital is a monopsonist in the market for nursing services in a city. At its profit-maximizing input combination, the elasticity of supply for nursing services is +1. What does this tell you about the magnitude of the marginal revenue product of labor relative to the wage that the firm is currently paying its workers?

Contemporary Nursing: Issues, Trends & Management, 6th Ed* Author: Barbara Cherry DNSc MBA RN NEA-BC; Susan R. Jacob PhD MSN RN ISBN: 978-0323101097 Publisher: Mosby, (2013)

Topic: Professional Standards of Nursing Practice.

Write a 250-300 word paper using APA Format .

Use at least THREE references

References must not be less than FIVE years.

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