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    The MRP of an input

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    The MRP of an input is...

    a) the selling price of the last unit of OUTPUT

    b) the increment of total revenue resulting from the use of an additional unit of input.

    c) used in determining marginal product

    d) harder to determine in pure competition than in monopoly

    e) harder to determine in pure competition than in oligopoly

    © BrainMass Inc. brainmass.com March 4, 2021, 5:57 pm ad1c9bdddf
    https://brainmass.com/economics/output-and-costs/mrp-input-20326

    Solution Summary

    The MRP of an input is demonstrated. The marginal products are given.

    $2.49

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