Economics · Market Structures
Which of the following conditions is applicable for a monopolist purchasing a variable input in a perfectly competitive factor market at a price Sv?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Sv = MRPv/MRPf, where MRPf is the marginal revenue product of the fixed input.
- 2Sv = MPv/MPf, where MPf is the marginal product of the fixed input.
- 3Sv = MRPv, where MRPv is the marginal revenue product of the variable input.✓
- 4Sv = MPv, where MPv is the marginal product of the variable input.
Correct answer
Sv = MRPv, where MRPv is the marginal revenue product of the variable input.
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