MRP = MRC formula
MRP = MRC formula
Glossary micro and macro economics
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Economics
Definition of mrp = mrc formula
MRP = MRC formula : equation showing that to maximize profit and minimize loss, a firm will employ a resource input quantity when the marginal revenue product is equal to the marginal resource cost of the resource input.
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Glossary micro and macro economics
Micro and macro economics glossary index of terms
Definition and meaning of mrp = mrc formula
Meaning of mrp = mrc formula
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