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Video Source: www.youtube.com/watch?v=0r7WyKn_Y1g
Hello learners, • Welcome to my channel... • This lesson discuss the Marginal Productivity Theory of Wages • Following points are discussed: • Theories of Wages Determination • Marginal Productivity Theory of Wages • Meaning • Assumptions • Statement of the theory • Analysis of the Theory from the point of view of an Industry • Analysis of the Theory from the point of view of a Firm • Graphs • Criticism • 1) Unrealistic assumption of perfect competition • 2) One-sided • 3) Theoretical concept • 4) Difficulty in measuring Marginal Productivity • 5) Impractical • 6) Less Employment on Higher wage • 7) It ignores the influence of other factors on Productivity • 8) Static Condition • Telegram channel link: • https://t.me/enlightenknowledge1 • Facebook page link: • / enlightenknowledge • Thank you!! 😊😊 • EK:) • #marginal • #productivity • #theory • #wages
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