[Select] For a firm operating in a output market, the value of the marginal product is the [Select] V multiplied by the

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Select For A Firm Operating In A Output Market The Value Of The Marginal Product Is The Select V Multiplied By The 1 (40.4 KiB) Viewed 46 times

[Select] For a firm operating in a output market, the value of the marginal product is the [Select] V multiplied by the firm's [Select] price. For firms with some market power in their output market, like a [Select] the value of additional output sold is the firm's [Select] not the price. This is because they face a [Select] sloping demand curve for output, which means that in order to sell additional output, the firm must lower its price. The marginal revenue product equals the marginal product of labor multiplied by the marginal revenue.