Which one of the following formula is correct for the Marginal Revenue Product of the labor (MRP_L)? Option 1: MRP_L = AR × MP_L Option 2: MRP_L = MR × MP_L Option 3: MRP_L = MR × MR_L Option 4: MRP_L = MP × MR_L

The answer is 'MRP_L = MR × MP_L'. View full solution:

CUET Economics - Which one of the following formula is correct for the Marginal Revenue Product of the labor (MRP_L)? | PYQs + Solutions

CUET Economics 2026 21st May Shift 1

Micro

Easy

MRP $_L$ = AR × MP $_L$

MRP $_L$ = MR × MP $_L$

MRP $_L$ = MR × MR $_L$

MRP $_L$ = MP × MR $_L$

✅ Correct Option: 2