AP Microeconomics: Factor Markets: True or False: when calculating MRP, ...

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Last update by chavmic on 04/23/2012

AP Microeconomics: Factor Markets

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to review factor markets in preparation for the AP Microeconomics exam

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Free Flashcard From AP Microeconomics: Factor Markets

Question: True or False: when calculating MRP, one must use different processes when dealing with laborers and with capital.

Answer: False; the process for finding MRP is the same. However, a laborer may have a different cost and output than the corresponding capital.