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Q. Product of marginal revenue?
MRPL is the product of marginal revenue and marginal product of labour or MRPL = MR x MPL.
• Derivation:
MR = ?TR/?Q
MPL = ?Q/?L
MRPL = MR x MPL = (?TR/?Q) x (?Q/?L) = ?TR/?L
Bank of Issue The central bank enjoys the monopoly of bank note issue i.e. no bank other than the central bank is authorised by law to print currency notes. Printing of paper
TC=100+0.15Q, Qu=1000-10Pu
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