Marginal Revenue Product Can Be Calculated Using the Formula Marginal

question 32

Multiple Choice

Marginal revenue product can be calculated using the formula marginal product × output price

• A)only if output price is constant.
• B)only if the marginal product of labor is constant.
• C)only if the both marginal product of labor and the output price are constant.
• D)only if the firm has market power in the labor market

---

Definitions:

OCD

Obsessive-Compulsive Disorder, a mental health condition characterized by unwanted, repetitive thoughts (obsessions) and behaviors (compulsions) that an individual feels compelled to perform.

Identical Twins

Twins who originate from the same fertilized egg, sharing 100% of their genetic material.

Phobia

An excessive and irrational fear reaction to a specific object, situation, or activity, often leading to avoidance behavior.

PTSD

A mental health issue known as post-traumatic stress disorder develops as a result of direct exposure to or witnessing a traumatic incident, manifesting through severe anxiety, flashbacks, and nightmares.