The correct answer is- the MRP exceeds the wage rate.
<h3>How does MRP influence wage rates?</h3>
Basic economic theory suggests that wages depend on a worker's marginal revenue product MRP. (this is basically the value that they add to the firm which employs them.)
MRP is determined by two factors: MPP – Marginal physical product – the productivity of a worker.
<h3>What factors increase wages?</h3><h3>Productivity:</h3>
Wage increase is sometimes associated with increase in productivity.
Workers may also be offered additional bonus, etc., if productivity increases beyond a certain level.
Learn more about MRP and wage here:
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