The Marginal Revenue Product of an Economic Resource for a Firm

question 234

Multiple Choice

The marginal revenue product of an economic resource for a firm operating in purely competitive product and resource markets

• A)is the marginal product of the resource divided by the price of the final product.
• B)is the increase in total revenue resulting from the addition of one more unit of the resource.
• C)is equal to the average revenue product at the lowest point of the average revenue product curve.
• D)decreases as the quantity of output decreases.

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