Purchase Solution

The MRP of an input

Not what you're looking for?

Ask Custom Question

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

Purchase this Solution

Solution Summary

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

Purchase this Solution

Free BrainMass Quizzes
Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.