Answer:
physical product of labor equals the wage rate
Explanation:
The marginal product of an input refers to the extra output produced as a result of addition of one unit of the input to the given productive factors.
Marginal revenue is the revenue earned by producing one more unit of a product.
For the competitive firm in the labor market, the value of the marginal product is equal to the marginal revenue product because marginal physical product of labor equals the wage rate.
