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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

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#marginal
#productivity
#theory
#wages

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