variable input is the additional revenue a firm earns from the output produced by employing one additional

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variable input is the additional revenue a firm earns from the output produced by employing one additional unit of the input, ceteris paribus. MRP is equal to the input’s marginal product times the price of output.

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Principles Of Microeconomics

ISBN: 9780691150093

13th Global Edition

Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster

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Question Posted: Nov 11, 2024 10:08 AM

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variable input is the additional revenue a firm earns from the output produced by employing one additional

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Principles Of Microeconomics

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