Difference between marginal product and marginal revenue product
Answers
Answered by
3
Answer:
Marginal Revenue Product is the additional revenue generated from using one more unit of the input. Mathematically, it is the change in total revenue divided by the change in the number of inputs (x), which is also equal marginal product times marginal revenue.
Answered by
1
Answer:
Marginal product is the increase in the total output when the input is increased by 1 unit.
Marginal Revenue Product is the additional revenue generated from using one more unit of the input.
Similar questions