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Define the marginal production theory?
if the situation of perfect competition prevails in the economy then reward to each factor will equal to its productivity
What is Marginal productivity theory and explain its criticism?
i dnt knw it yaaaaaaaaaaar. agar mujy ata tou likh na deta?
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 .
What are the 3 theories of wage determination?
The three main theories of wage determination are the marginal productivity theory, the bargaining theory, and the efficiency wage theory. The marginal productivity theory posits that wages are determined by the value of the additional output generated by an employee. The bargaining theory suggests that wages result from negotiations between employers and employees, influenced by factors like labor market conditions and union presence. The efficiency wage theory argues that higher wages can lead to increased productivity and lower turnover, as employers seek to incentivize better performance and attract more qualified workers.
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.
Who propounded marginal productivity theory of distribution?
TAUSSIG
Define the marginal production theory?
if the situation of perfect competition prevails in the economy then reward to each factor will equal to its productivity
What is Marginal productivity theory and explain its criticism?
i dnt knw it yaaaaaaaaaaar. agar mujy ata tou likh na deta?
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 .
What are the 3 theories of wage determination?
The three main theories of wage determination are the marginal productivity theory, the bargaining theory, and the efficiency wage theory. The marginal productivity theory posits that wages are determined by the value of the additional output generated by an employee. The bargaining theory suggests that wages result from negotiations between employers and employees, influenced by factors like labor market conditions and union presence. The efficiency wage theory argues that higher wages can lead to increased productivity and lower turnover, as employers seek to incentivize better performance and attract more qualified workers.
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 has the author Carola Jacobi written?
Carola Jacobi has written: 'Hausfrauen, Bauern, Marginalisierte' -- subject(s): Production (Economic theory), Marginal productivity
What is marginal revenue?
Marginal revenue is the change in total revenue over the change in output or productivity.
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.
Those who advocate the marginal productivity theory of income distribution argue that?
Resource markets will set incomes based on workers' contributions to the output of scarce goods and services
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
