Solved

For Any Firm in Any Market Structure,a Factor's Marginal Revenue

Question 79

Multiple Choice

For any firm in any market structure,a factor's marginal revenue product is


A) the average product of the factor multiplied by the price of the output.
B) the change in revenue caused by the sale of the product contributed by an additional unit of input.
C) the change in revenue caused by the sale of an additional unit of output.
D) the increase in output resulting from the use of an additional unit of the factor multiplied by the cost of that factor.
E) marginal revenue multiplied by total product.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions