The Marginal Revenue Product of a Resource

question 82

Multiple Choice

The marginal revenue product of a resource:

• A) is defined as the marginal product of the resource multiplied by the resource price.
• B) simply means that a firm should add to its capital stock as long as competition requires it.
• C) equals the extra output produced by an additional unit of the resource multiplied by the price of that output.
• D) equals the average product of the resource multiplied by the cost of hiring an additional (marginal) unit of the resource.

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Definitions:

Online Retail Store

A digital platform where goods or services are sold directly to consumers over the internet.

E-business

Pertains to the conduct of business processes on the internet, including buying and selling products, services, and managing company operations.