All of the following except one are true statements about the MRP.Which is the exception? A)It is equal to $\Delta$TR/$\Delta$inputs. B)It is equal to $\Delta$TP/price. C)It is the increase in total revenue that results from the use of one more unit of input. D)It is equal to MP_L $\Delta$ price.

Question

Quizplus · Accepted Answer

The correct definition of Marginal Revenue Product (MRP) is the increase in total revenue that results from the use of one more unit of input, which matches option C. Options A and D are incorrect because they contain nonsensical or irrelevant formulas. Option B is incorrect because MRP is not calculated as the change in total product over price; instead, it involves the change in total revenue from an additional unit of input.

All of the Following Except One Are True Statements About Δ\DeltaΔ

All of the Following Except One Are True Statements About $\Delta$