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if the situation of perfect competition prevails in the economy then reward to each factor will equal to its productivity
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∙ 14y ago
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What war the 3 stages of production?
Three stages of production are increasing marginal returns, diminishing marginal returns, and negative marginal returns.
A monopolist will set its production at a level where marginal cost is equal to?
A monopolist will set production at a level where marginal cost is equal to marginal revenue.
What is a level of production in which the marginal production decrease with new investment?
diminishing marginal returns
Marginal revenue equals?
marginal cost of production
When is economic surplus maximized?
when the marginal benefit of consumption is equal to the marginal cost of production.
What war the 3 stages of production?
Three stages of production are increasing marginal returns, diminishing marginal returns, and negative marginal returns.
A monopolist will set its production at a level where marginal cost is equal to?
A monopolist will set production at a level where marginal cost is equal to marginal revenue.
What is a level of production in which the marginal production decreases with new investment?
diminishing marginal returns
What is a level of production in which the marginal production decrease with new investment?
diminishing marginal returns
Marginal revenue equals?
marginal cost of production
What has the author Carola Jacobi written?
Carola Jacobi has written: 'Hausfrauen, Bauern, Marginalisierte' -- subject(s): Production (Economic theory), Marginal productivity
If marginal revenue is greater than marginal cost the firm should?
If MR is greater than MC, the firm should increase their production. The ideal amount of production is determined by allowing the marginal cost to equal the marginal revenue.
When is economic surplus maximized?
when the marginal benefit of consumption is equal to the marginal cost of production.
Define personality Elucidate trait theory?
Personality refers to a person's unique set of characteristics, behaviors, and emotional patterns that influence how they interact with the world. Trait theory suggests that personality can be understood through identifying and measuring specific traits, or stable patterns of behavior, that are consistent across different situations and over time. This theory emphasizes that individuals vary in the degree to which they possess certain traits, leading to different personality profiles.
What does profit maximizing quantity of output mean?
Its the level of production where marginal cost is equal to marginal revenue.
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.
