No Bull Economics Lessons

Macroeconomics & Microeconomics Concepts You Must Know

Essential Questions

How do you calculate marginal revenue product?

Posted on April 18, 2014 at 10:20 AM

Marginal revenue product (MRP) is the change in total revenue divided by the change in quantity of inputs. You can also calculate the MRP by multiplying marginal product (AKA marginal physical product) by the marginal revenue.


MRP = Change in TR / Change in Inputs

or

MRP = MP x MR


AP Microeconomics Unit 3 Resource Markets

Categories: AP Microeconomics, Micro Unit 3 Resource Markets

Post a Comment

Oops!

Oops, you forgot something.

Oops!

The words you entered did not match the given text. Please try again.

You must be a member to comment on this page. Sign In or Register

0 Comments

iPhone Apps by Mr. Medico

   


Mr. Medico's Review Books (Paperback)