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Author Question: Which of the following is true of marginal revenue product (MRP) and marginal product (MP)? a. MRP ... (Read 42 times)

washai

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  • Posts: 523
on: Jun 30, 2018
Which of the following is true of marginal revenue product (MRP) and marginal product (MP)?
 a. MRP = MP  price, whether the firm is a price searcher or not.
  b. MRP = MP  price only if the firm is a price searcher.
  c. MRP = MP  price only if the firm sells in a perfectly competitive market.
  d. MRP = MP  marginal cost only if the firm is a price searcher.
  e. MRP = MP/price only if the firm is a price taker.

Question 2

Dumping raw sewage into Boston Harbor is an example of
 a. a negative externality
  b. a positive externality
  c. a private cost
  d. a sunk cost
  e. an inverse cost


canderson530

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Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

A


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