1:income of consumer do not remain constant for a every long time
2:price of the commodities change from time to time
3:taste of the consumers varies with time
4:the principle on which the consumer decide to spend the given amount will also get affective
i know about some criticisms of marginal productivity. i.e.
1 homogeneous units
2 no close substitute
3 perfect competition and full employment
4 law of diminishing returns
5 difficulty in measurement
6 supply of factors
7 wage cut
8 withdrawal may cause a lose
9 labor supply is ignored
10 technological changes
11 joint efforts of various factors
if the situation of perfect competition prevails in the economy then reward to each factor will equal to its productivity
i dnt knw it yaaaaaaaaaaar. agar mujy ata tou likh na deta?
Graphically illustrate and explain the relationship between marginal productivity of labour and the demand for labour .
When marginal productivity is diminished, the cost of productions can decrease if the marginal costs for making an extra product is larger than the marginal revenue for that 1 extra unit product.
Marginal and Average productivity increases when technological innovations are introduced into production process.
TAUSSIG
if the situation of perfect competition prevails in the economy then reward to each factor will equal to its productivity
i dnt knw it yaaaaaaaaaaar. agar mujy ata tou likh na deta?
Graphically illustrate and explain the relationship between marginal productivity of labour and the demand for labour .
When marginal productivity is diminished, the cost of productions can decrease if the marginal costs for making an extra product is larger than the marginal revenue for that 1 extra unit product.
Carola Jacobi has written: 'Hausfrauen, Bauern, Marginalisierte' -- subject(s): Production (Economic theory), Marginal productivity
Marginal revenue is the change in total revenue over the change in output or productivity.
Marginal and Average productivity increases when technological innovations are introduced into production process.
Resource markets will set incomes based on workers' contributions to the output of scarce goods and services
the impact of produvtivity
oWhat is the relationship between Marginal Productivity of Labour and Labour welfare
limitations of valence bond theory