What do you mean by ‘under conditions of perfect competition in the product market’?
A. MRP = VMP
B. MRP > VMP
C. VMP > MRP
D. None of the above
Answer:A
What do you mean by ‘under conditions of perfect competition in the product market’?
A. MRP = VMP B. MRP > VMP C. VMP > MRP D. None of the above