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Nidhi taparia Best Answer
VMP = P x MPP MRP = MR x MPP There is no difference between VMP and MRP if the market is perfectly competitive. Because here, P = AR = MR. Hence VMP = MRP. But whenever the markets aren't perfectly competitive, P > MR. Hence VMP ≠ MRP in all other market forms like monopoly, monopolistic and oligopolistic markets.