ap考前辅导培训班

productivity-the output produced by an input or resource. Generally, it is measured as the additional product that is produced by adding one more unit of input to the productive process (also called the marginal product of the resource). marginal revenue product (MRP)-the value to a resource buyer of one more unit of a resource. It is defined as the marginal product of the resource times the marginal revenue that can be earned for each unit of good produced by the resource. The marginal revenue product (MRP) is the basis of the demand curve for a resource. *value of marginal product (VMP)-the marginal product of the resource times the price of the good produced by the resource. The value of marginal product is the same as the marginal revenue product (MRP) if the resource buyer is a price taker in selling its product.