MRP = MP * MR but also MRP = ??? 12 seconds hint: wages, explain WHY
price I firm will not pay above the price of an input if the revenue generated from selling that additional ouput is less then price I know my english is bad but your giving me 12 seconds lol
correct MRP = wages. see book II. Econ is only 10% of exam, but I think it can be painful!!
O really? MRP = wages? wow I knew there was a connection between the 2 but I didnt know MRP= wages… mmm now that I think about it, it does make sense, but anyone care to elaborate?
for bonus, what is the MRP capital=?