Why Is the Value of Marginal Product Equal to the Marginal

question 43

Multiple Choice

Why is the value of marginal product equal to the marginal revenue product under perfect competition in the product market?

• A)Because price is equal to average revenue
• B)Because price is equal to average cost
• C)Because marginal revenue is equal to marginal cost.
• D)Because price is equal to marginal revenue
• E)Because average revenue is equal to average cost

---

Definitions:

Gender

A concept that refers to the roles, behaviors, activities, expectations, and societal norms associated with being male or female.

Moratorium

A period of delay or suspension of activity; in developmental psychology, it refers to a period where individuals are not making any significant decisions regarding their personal identity.

Identity Statuses

The various configurations of identity development in adolescents and adults as theorized by psychologists, including stages of exploration and commitment.