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Distribution Analysis — Economics STD 11 — Question

Tamilnadu BoardEnglish MediumSTD 11EconomicsDistribution Analysis2 Marks
Question
Define VMP?
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Answer

  1. VMP – means Value of Marginal Product.
  2. The Value of the Marginal Product is obtained by multiplying the Marginal Physical Product of the factor by the price of the product. Symbolically, VMP = MPP x Price.

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