Under Marginal productivity Theory, reward for labour is determined by

Related MCQs

• The marginal productivity theory of distribution was firstly formulated in its complete form by
• Marginal productivity theory is also called
• The marginal productivity theory of distribution is associated with
• Which of the following is not included in the assumptions of Clark’s marginal productivity of distribution
• The necessary condition for allocative efficiency is that each commodity be produced in an amount that makes the marginal benefit to society of the last unit produced equal to the marginal cost to society of that last unit. The satisfaction of this condition in a market economy relies on the assumptions of:
• If marginal product of labour rises because of new technology:
• The marginal condition for a Pareto-optimal allocation of factors requires that the ________ between labour and capital be equal for all commodities produced by different firms.
• According to Prof Knight, profit is the reward for
• Every factor of production gets reward equal to its:
• Every factor of production gets reward equal to: