Marginal Resource Cost (MRC)
The additional cost of an additional resource (worker). In perfectly competitive labor markets, the MRC equals the wage set by the market and is constant.
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It is similar to Marginal Cost (MC), but in factor market.
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The additional cost of an additional resource (worker). In perfectly competitive labor markets, the MRC equals the wage set by the market and is constant.
It is similar to Marginal Cost (MC), but in factor market.