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.
C
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Indicate whether the statement is true or false
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