Wages Theories: Subsistence Theory of Wages, Wage Fund Theory, Residual Claimant Theory and Marginal Productivity Theory
by The workers are paid wages or salaries for the work done by them. Thus, the …
Month: December 2022
Quasi Rent Theory
The concept of quasi-rent was given by Alfred Marshall. He defined quasi rent as surplus …
Ricardian Theory
David Ricardo, an English classical economist, first developed a theory in 1817 to explain the …
Profit: Accounting and Economic Profit. Dynamic Theory of Profit: Risk-bearing Theory, Uncertainty Bearing Theory and Innovation Theory
The term profit has distinct meaning for different people, such as businessmen, accountants, policymakers, workers …
Theory of Marginal Productivity
In the words of J.B. Clark, “Under static conditions, every factor including entrepreneur would get …
Factor Pricing
Factors of production can be defined as inputs used for producing goods or services with …
Price discrimination in monopoly
Price discrimination is a selling strategy that charges customers different prices for the same product …
Price Determination of Firm and industry under Monopoly
Price Determination of Firm and industry under Monopoly
Price Determination of Firm and Industry under Monopolistic Competition
Price Determination of Firm and Industry under Monopolistic Competition
Equilibrium of Firm and industry under Perfect competition
According to R.L.Miller, “Firm is an organisation that buys and hires resources and sells goods …