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Marginal Revenue Productivity Theory of Wages - Unlocking Prosperity A Comprehensive Guide to the Marginal Revenue Productivity Theory of Wages - cover

Marginal Revenue Productivity Theory of Wages - Unlocking Prosperity A Comprehensive Guide to the Marginal Revenue Productivity Theory of Wages

Fouad Sabry

Publisher: One Billion Knowledgeable

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Summary

What is Marginal Revenue Productivity Theory of Wages
 
It is a model of wage levels that is set to match to the marginal revenue product of labor, which is the increment to revenues generated by the increment to output created by the last laborer employed. The marginal revenue productivity theory of wages is a model of why wage levels are set to match to the marginal revenue product of labor. In a model, this is justified by the premise that the company is maximizing its profits and, as a result, would only employ labor up to the point where the marginal labor expenses are equal to the marginal income generated by the company. This is an example of a model that is seen in neoclassical economics.
 
How you will benefit
 
(I) Insights, and validations about the following topics:
 
Chapter 1: Marginal revenue productivity theory of wages
 
Chapter 2: Perfect competition
 
Chapter 3: Profit maximization
 
Chapter 4: Price elasticity of demand
 
Chapter 5: Marginal cost
 
Chapter 6: Production function
 
Chapter 7: Marginal product
 
Chapter 8: Diminishing returns
 
Chapter 9: Marginal revenue
 
Chapter 10: Cournot competition
 
Chapter 11: Ramsey problem
 
Chapter 12: Cost curve
 
Chapter 13: Solow-Swan model
 
Chapter 14: Harrod-Domar model
 
Chapter 15: Marginal rate of technical substitution
 
Chapter 16: Supply (economics)
 
Chapter 17: Incremental capital-output ratio
 
Chapter 18: Marginal product of capital
 
Chapter 19: Marginal product of labor
 
Chapter 20: Robinson Crusoe economy
 
Chapter 21: Monopoly price
 
(II) Answering the public top questions about marginal revenue productivity theory of wages.
 
(III) Real world examples for the usage of marginal revenue productivity theory of wages in many fields.
 
Who this book is for
 
Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Marginal Revenue Productivity Theory of Wages.
Available since: 02/04/2024.
Print length: 243 pages.

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