According to classical marginal productivity theory, workers are paid
A. a real wage
B. the value of their time
C. the value of their marginal product
D. the value of total output
Ans: C. the value of their marginal product
Economics
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Would an increase in the productivity of labor lead to an increase or a decrease in the demand for labor? Why?
Economics
The market demand curve for a particular good
a. may be horizontal even if the individual consumers' demand curves are downward sloping b. will always shift to the right as the price of the good decreases c. is even more likely to be downward sloping than an individual consumer's demand curve d. will always shift to the right if consumers' incomes increase e. must be flatter than the flattest of the individual consumer demand curves
Economics