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When was The Theory of Wages created?

Updated: 8/21/2019
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The Theory of Wages was created in 1932.

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The theory of wages are based on supply and demand for a worker's skills is called what theory?

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Some of the key theories of wages include the classical theory, which states that wages are determined by the supply and demand for labor in the market; the neoclassical theory, which emphasizes the role of productivity and marginal revenue product in determining wages; and the bargaining theory, which suggests that wages are determined through negotiations between employers and workers. Additionally, the dual labor market theory posits that there are two distinct segments of the labor market with different wage-setting mechanisms.


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