Which of the following equations defines marginal revenue product?
A. MRP = P times Q.
B. MRP = total cost.
C. MRP = total revenue minus total cost.
D. MRP = MPP times price of the product.
Answer: D
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A) exports; consumers B) exports; producers C) imports; consumers D) imports; producers
What conditions should be met to practice price discrimination in a market?
Which of the following is most likely to help the residents of a nation produce more goods and services and achieve higher income levels?
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