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Marginal productivity of labour and the demand for labour .?
Graphically illustrate and explain the relationship between marginal productivity of labour and the demand for labour .
How does the law of diminishing marginal productivity affect the cost of productions?
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.
What is marginal revenue?
Marginal revenue is the change in total revenue over the change in output or productivity.
Who propounded marginal productivity theory of distribution?
TAUSSIG
What would happen to marginal and average productivity if a technological innovation were introduced to the production process?
Marginal and Average productivity increases when technological innovations are introduced into production process.
What is relation between marginal cost and marginal productivity of labour?
Marginal cost refers to the additional cost incurred by producing one more unit of a good or service, while marginal productivity of labor measures the additional output generated by employing one more unit of labor. The relationship between the two is that as the marginal productivity of labor increases, the marginal cost of production typically decreases, because more output is being generated per unit of labor. Conversely, if the marginal productivity of labor declines, marginal costs tend to rise, reflecting diminishing returns. This relationship is crucial for firms in determining optimal production levels and labor employment.
What is the impact of marginal productivity on a construction firm?
the impact of produvtivity
What is the concept of communication and its importance to productivity?
How importance is the concept of communication to cooperate productivity
Discuss in details of productivity and labor welfare?
oWhat is the relationship between Marginal Productivity of Labour and Labour welfare
Would Hammurabi's laws be effective in today's society?
In fact, the Hammurabi code has rules on the use of Money and Banking, Concepts of Efficiency, Disapproval of Negligent Behavior, Concept of Equity and Wage and Marginal Productivity.
What is time Hammurabis code includes laws on banking?
In fact, the Hammurabi code has rules on the use of money and banking, concepts of efficiency, disapproval of negligent behavior, concept of equity and wage and marginal productivity.
What marginal production?
Marginal production refers to the additional output generated by employing one more unit of a particular input, such as labor or capital, while keeping other inputs constant. It is a key concept in economics and production theory, helping to analyze the efficiency and productivity of resources. Marginal production typically decreases as more units of input are added, a phenomenon known as diminishing marginal returns. Understanding marginal production is essential for businesses to optimize resource allocation and maximize profitability.
