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The MRP of an input

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

Solution Summary

The MRP of an input is demonstrated.

$2.19