Marginal revenue product (MRP):
Increase in revenue from employing one more unit of a resource.
Marginal product (MP):
Increase in output from employing one more unit of a resource. (last unit of resources)
Marginal revenue (MR):
Increase in revenue from one unit increase in output.
For price taker,
MRP = MP x MR.
For non-price taker, more complicated computation.
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