Marginal revenue product (MRP) is the
A) additional output generated by employing an additional factor unit.
B) additional profit generated by employing an additional factor unit.
C) additional revenue generated by employing an additional factor unit minus the additional cost.
D) additional revenue generated by employing an additional factor unit.
E) total revenue from the sale of a product divided by the total output of the product.
Correct Answer:
Verified
Q2: When a firm decides whether or not
Q3: For a product price taker, VMP equals
Q4: The market demand curve for labor is
Q5: For a given labor market, an increase
Q6: The supply of labor in a particular
Q7: What looks like discrimination in the labor
Q8: A firm that is a price taker
Q9: Marginal productivity theory states that if a
Q10: Labor supply is a reflection of the
Q11: The elasticity of demand for labor measures
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