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In either case, most attempts at explaining this phenomenon begins with some type of estimation of the athlete's marginal revenue product (MRP).
Equation (1) equates the marginal revenue product of a private sector worker to the private sector's real demand wage [([v.
Mathematical Expression Omitted]) is the marginal revenue product of factors.
Colleges are effectively monopsony employers so players will not be paid their marginal revenue product.
The concept of the marginal revenue product (MRP) is frequently focused upon in chapters on factor input markets of microeconomic textbooks.
Persistence of such a wage dispersion in equilibrium may be explained by heterogeneous firm marginal revenue product schedules, see Reinganum [14].
The conventional treatment of this subject shows that the demand curve for a factor in a competitive input market is given by the portion of its marginal revenue product MRP curve on or below its average revenue product curve.
The key consideration is the behavior of marginal revenue product, which depends on both the extra output that an additional unit of an input produces and on the revenue that the extra output fetches.
It shows that when a rate-of-return regulated monopolist moves from linear to nonlinear prices, the A-J input bias will decrease (increase) if the move increases (decreases) the marginal revenue product of capital.
L] shows the marginal revenue product minus the marginal transportation cost of output.
Second, in each case under affirmative action, white marginal revenue product (MRP) is higher in services than manufacturing, while black marginal revenue product is higher in manufacturing than services.