Topics
Marginal revenue product (MRP)
Marginal revenue product of labour (MRPL) is the extra revenue generated when an additional worker is employed.
Formula: MRPL = marginal product of labour x marginal revenue
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Competitive Labour Markets and Wage Determination
Quizzes & Activities
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Marginal Revenue Product - MCQ Revision Question
Practice Exam Questions
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Marginal decisions in economics
Study Notes