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What does marginal revenue product measure?

A

MRP is the addition to total profit from employing one more unit of labour, ceteris paribus.

B

MRP is the addition to total revenue from employing one more unit of labour, ceteris paribus.

C

MRP is the addition to total cost from employing one more unit of labour, ceteris paribus.

D

MRP is the addition to total output from employing one more unit of labour, ceteris paribus.

Card 1 of 23

8.3.4 marginal revenue product (MRP) theory Flashcards

  1. Intl A Level
  2. /Economics
  3. /8.3.4 marginal revenue product (MRP) theory

23 flashcards on CIE Intl A Level Economics 8.3.4 marginal revenue product (MRP) theory: the key terms and definitions you need to recall.

Flashcards