The Figure Given Below Shows the Marginal Revenue Product (MRP)

question 54

Multiple Choice

The figure given below shows the marginal revenue product (MRP) of accountants in a firm.Figure 14.2
MRP = MP X MR

-If the resource market is perfectly competitive:

• A)the market demand for the resource is perfectly elastic.
• B)the market demand for the resource is perfectly inelastic.
• C)the suppliers can affect the input price by increasing or reducing their supply.
• D)the input price to each firm is constant.
• E)the supply of the resource is perfectly inelastic.

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