Multiple Choice
The main difference between marginal revenue product (MRP) and the value of marginal product (VMP) is that VMP
A) applies to firms selling in competitive markets, while MRP applies to firms selling in all markets.
B) applies to monopolists, and MRP applies to all markets.
C) applies to firms selling in all markets, while MRP applies to firms selling in competitive markets.
D) measures a worker's net contribution to revenue, while MRP measures a worker's gross contribution to revenue.
Correct Answer:
Verified
Correct Answer:
Verified
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