Multiple Choice
Which of the following statements is false?
A) The value marginal product is a measure of the value that each factor unit adds to the firm's product.
B) For a monopolist, value marginal product equals marginal revenue product.
C) A change in the price of the product labor produces or a change in the marginal physical product of labor (reflect in a shift in the MPP curve) will shift the demand curve for labor.
D) For a perfectly competitive firm, value marginal product equals marginal revenue product.
Correct Answer:
Verified
Correct Answer:
Verified
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