#shortsvideo #shorts #economics
Explanation of Marginal Productivity Theory of Wages 1
ANALYSIS OF WAGE DTERMINATION FROM INDUTRY POINT OF VIEW
AS THERE IS PERFECT COMPETITION IN THE ECONOMY. IT IS THE INDUSTRY WHICH DETERMINE THE WAGE RATE WHERE DEMAND OF LABOUR IS EQUAL TO WAGES
AS FULL EMPLOYMENT EXIST IN THE ECONOMY SO THE SUPPY OF LABOUR IS FIXED.
