Meaning of marginal revenue product (MRP)

 


 

Marginal revenue product (MRP)

 

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Economics terminology

 

Glossary of economics terms and concepts

 

Meaning and definition of marginal revenue product (MRP)

 

The change in a firm's total revenue when it employs 1 additional unit of a resource (the quantity of all other resources employed remaining constant), equal to the change in total revenue divided by the change in the quantity of the resource employed.

 

For the term marginal revenue product (MRP) may also exist other definitions and meanings, the meaning and definition indicated above are indicative not be used for medical and legal or special purposes.

 

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Glossary of economics terms and concepts

 

Marginal revenue product (MRP)

 

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Meaning and definition of marginal revenue product (MRP)

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Meaning and definition of marginal revenue product (MRP)
Marginal revenue product (MRP)