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.
The type of demand that exist between torchlight and battery is ...
Development plans in Nigeria have deviated from their targets due to ...
When the demand for a good increases owing to an increase in income, it means that ...
Which of the following is correct? ...
When a firm is enjoying internal economies of scale, its? ...
The elasticity of demand is given by ...
These are the objectives of industrial strategies in Nigeria EXCEPT ...
The Nigerian economy is mono-cultural because government revenue is derived mainly from ...