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Which of the following correctly describes the marginal revenue product (MRP) curve for resources in perfectly competitive markets as compared to imperfectly competitive markets?

A

The marginal revenue product curve is equal to demand when products are sold in perfectly competitive markets but not when they are sold in imperfectly competitive markets.

B

The marginal revenue product curve is equal to demand in imperfectly competitive resource markets but not in perfectly competitive resource markets.

C

The marginal revenue product curve is downward sloping in imperfectly competitive product markets but not in perfectly competitive product markets.

D

The marginal revenue product curve is downward sloping in perfectly competitive resource markets but not in imperfectly competitive resource markets.

E

The marginal revenue product curve slopes downward more steeply when products are sold in imperfectly competitive markets than when products are sold in perfectly competitive markets.

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