Marginal Revenue Product (MRP)
The MRP of a resource equals Demand. The additional revenue generated by an additional worker (resource). In perfectly competitive product markets, the MRP equals the marginal product of the resource times the price of the product
Tip
It is similar to Marginal Revenue (MR), but in factor market.
MRP = MRC
相关笔记
Marginal Resource Cost (MRC)
Factor Prices (Factor Payments)
Labor Market