Post Utme Skyline University 2019 Commerce Question 22

Practice objective / multiple choice question 22 from the 2019 Post Utme Skyline University Commerce examination.

Post Utme Skyline University 2019 Commerce Objective / Multiple Choice
Question 22 POST_UTME_SKYLINE_UNIVERSITY • 2019 • COMMERCE • objective

In a perfectly competitive market, what is the relationship between the marginal revenue product (MRP) of a factor and the market wage?

Answer Options

A. MRP = market wage
B. MRP > market wage
Correct Answer C. MRP < market wage
D. MRP is unrelated to market wage
Correct Answer
C
Correct Option:
MRP < market wage

About This Question

This is Post Utme Skyline University 2019 Commerce Question 22. It is one of the objective questions from the 2019 Post Utme Skyline University Commerce examination.

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