Tag Archives | Wage Determination

Wage Determination under Non-Pure Competition | Economics

In this article we will discuss about wage determination under non-pure competition. The Marginal Productivity Theory of Distribution, as explained by J. B. Clark and others, is applicable in the case of factor-price (or labour-price i.e., wages) determination under pure competition. But, Mrs. Robinson and others have modified the theory to apply it in the case of factor-price determination under [...]

By Nipun S|2017-01-13T05:58:18+05:30January 13, 2017|Wage Determination|Comments Off

Wage Determination (With Formula) | Economics

We shall discuss wage determination under imperfect competition with the help of four models of market imperfections. 1.The First Model: Monopoly in the Product Market and Competition in the factor Market—the Monopolistic Exploitation of Labour: In the first model, we will assume that the firms have monopolistic powers in their respective product markets while the labour market is perfectly competitive. [...]

By Vanshika Ghosh|2016-09-17T15:55:20+05:30September 17, 2016|Imperfect Competition|Comments Off