UGC NET
Deepak Asked a Question
May 30, 2020 1:21 pmpts 10 pts
  • UGC NET
  • Economics

The difference between value of marginal product and marginal revenue product arise only if?

the difference between value of marginal product and marginal revenue product arise only if?
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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 market...
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