Which of the Following Is True of Marginal Revenue Product

question 137

Multiple Choice

Which of the following is true of marginal revenue product (MRP) and marginal product (MP) ?

• A)MRP = MP × price, whether the firm is a price taker or not
• B)MRP = MP × price, only if the firm is a price maker
• C)MRP = MP × price, only if the firm sells in a perfectly competitive market
• D)MRP = MP × marginal cost, only if the firm is a price maker
• E)MRP = MP/price, only if the firm is a price taker

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