If marginal product of labour rises because of new technology:

Related MCQs

• 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:
• Under Marginal productivity Theory, reward for labour is determined by
• 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.
• If equilibrium price rises but equilibrium quantity remains unchanged, the cause is:
• The marginal productivity theory of distribution was firstly formulated in its complete form by
• Which of the following is not included in the assumptions of Clark’s marginal productivity of distribution
• Marginal productivity theory is also called
• The marginal productivity theory of distribution is associated with
• The marginal condition for a Pareto-optimal or -efficient distribution of commodities among consumers requires that the MRS between ______ be equal for all consumers.
• A decrease in the supply of labour is likely to lead to: