The marginal productivity theory applies in a
...The marginal productivity theory applies in a
Unionized labour market
Perfectly competitive market
Monopsonistic market only
Monopolistic market only
Correct answer is B
The marginal productivity theory states that under perfect competition, the price of each factor of production will be equal to its marginal productivity.
Marginal productivity refers to the extra output, return, or profit yielded per unit by advantages from production inputs.
Which of the following does not encourage the location of industries? ...
The demand for factors of production is an example of ...
At a co-efficient of price elasticity of supply of 0.5, supply is ...
The capital market provides business firms with the avenue to ...
Which of the following market structure are imperfect in competition? i. Monopoly ii. Duopoly i...
Development planning which take an overall view of the economy is described as ...
In the normal channels of distribution the breaking of bulk is performed by the ...