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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 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.
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 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.
How would you answer someone who says that marginal utility theory is useless because utility cannot be observed?
How would you answer if someone says that “marginal utility theory is useless because utility cannot be observed”?
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 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.
What has the author Carola Jacobi written?
Carola Jacobi has written: 'Hausfrauen, Bauern, Marginalisierte' -- subject(s): Production (Economic theory), Marginal productivity
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 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.
What is the main element that sets western art criticism apart from that of the rest of the world?
Western art criticism focuses on theory and philosophy.
What is the criticism of theory x and theory y?
One criticism of McGregor's Theory X is that it creates diseconomies of scale in large applications. One criticism of McGregor's Theory Y is that it may not be possible for the superior-subordinate relationship to flower organically.
How would you answer someone who says that marginal utility theory is useless because utility cannot be observed?
How would you answer if someone says that “marginal utility theory is useless because utility cannot be observed”?
Is it possible for marginal utility to be negative in economic theory?
Yes, it is possible for marginal utility to be negative in economic theory. This occurs when consuming an additional unit of a good or service decreases overall satisfaction or utility.
How can the demand curve be derived using the marginal utility theory?
Marginal utility is the key concept underline demand .The height of a demand curve reflects marginal utility.The marginal utility curve resembles the demand curve. So, it is through the marginal utility we get the demand curve.
How do you explain Classical Conditioning Theory?
Explain Classical Conditioning Theory?
