The Marginal Revenue Product of an Economic Resource for a Firm

Multiple Choice

The marginal revenue product of an economic resource for a firm operating in purely competitive product and resource markets

A) is the marginal product of the resource divided by the price of the final product.
B) is the increase in total revenue resulting from the addition of one more unit of the resource.
C) is equal to the average revenue product at the lowest point of the average revenue product curve.
D) decreases as the quantity of output decreases.