- Fill in the blanks to make the following statements correct.
a. Marginal revenue product is calculated by multiplying
and.
b. Marginal revenue product represents the addition to a
firm’s total revenue as a result of.
c. To maximize its profits, a firm will hire all units of a factor
that have a(n) greater than or equal to its.
d. To maximize its profits, any firm will hire each factor of
production to the point where the factor’s equals the
.
