Economics (AS & A Level) · May / June 2021 · Paper 32 · Question 16

9708Labour market forces and government intervention

Which calculation would give the marginal revenue product (MRP) of labour for a firm selling its product in an imperfectly competitive product market?

Aaverage output produced per worker employed × marginal revenue of the product
Baverage output produced per worker employed × price of the product
Cextra product produced by an additional worker × marginal revenue of the product
Dextra product produced by an additional worker × price of the product

As printed in the paper

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Correct answer: C. extra product produced by an additional worker × marginal revenue of the product

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