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| 8.A shop foreman determines that an employee would produce two more units of output if he worked one additional hour. The product currently sells for $15.00 per unit and the firm is a price taker. Which of the following choices most accurately describes the relationship between the marginal revenue (MR) and marginal revenue product (MRP) from the additional hour of labor input? A:A:MRP > MR B:B:MR = $15 and MRP < MR C:C:MRP = MR |
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