Multiple Choice
Which of the following statements is true?
A) VMPL = MP × P.
B) VMPL = a one-unit change in a factor divided by the change in total revenue.
C) MC = change in total revenue divided by the one-unit change in a factor.
D) VMPL = change in the quantity of a factor times the price of the factor.
Correct Answer:
Verified
Correct Answer:
Verified
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