marginal productivity theory

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marginal productivity theory

In economics, the theory that firms will pay a productive agent only what he or she adds to the financial earnings of the firm. Developed by writers such as John Bates Clark and Philip Henry Wicksteed at the end of the 19th century, marginal productivity theory holds that it is unprofitable to buy, for example, a man-hour of labour if it costs more than it contributes to its buyer's income. The amount in excess of costs that a productive input yields is the value of its marginal product; the theory posits that every type of input should be paid the value of its marginal product.

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No references found			Services Exports * Marginal Productivity Theory of Wages Introduction In the manufacturing sector, technology and automation have been transferring low-skill factory jobs from developed countries to some emerging countries for well over a century. The influence of human capital investment on the exports of services ... by Contractor, Farok J.; Mudambi, Susan M. / Management International Review Scully's method characterizes the human capital specifications of marginal productivity theory. The baseball players' labor market reconsidered by Vrooman, John / Southern Economic Journal Marginal productivity theory, as clarified in Marshall's account, now adds the essential supports to Mill's theory of particular markets. Capital and Wages: A Lakatosian History of the Wages Fund Doctrine by Ekelund, Robert B., Jr. / Southern Economic Journal			margin plate margin requirement margin strip margin trowel margin-notched card marginal marginal bar marginal blight Marginal Channels marginal checking marginal chlorosis marginal cost Marginal Deep marginal dimensionality Marginal Efficiency of Capital marginal escarpment marginal fissure Marginal Hacks marginal moraine Marginal Oceanic Swells marginal placentation marginal plain Marginal Plateau marginal probability marginal product marginal productivity theory marginal relay marginal revenue marginal salt pan Marginal Sea marginal sinus marginal test marginal thrust marginal ulcer marginal upthrust marginal utility Marginal Utility Theory marginal-cost pricing Marginalism marginally outer trapped surface marginate Margoliouth, David Samuel Margolis margosa oil Margot Fonteyn Margoulis number Margrave Margrethe Margrethe II Margrethe's Birthday marguerite			marginal lakes marginal lakes marginal land Marginal Lineup Value Rate Marginal Losses Working Group Marginal Maximum Likelihood Estimation marginal moraine Marginal Net Private Benefit Marginal Oceanic Swells marginal peptic ulcer Marginal Per Capita Return marginal periodontitis marginal periodontitis marginal periodontitis Marginal physical product marginal placenta previa marginal placentation marginal placentation marginal plain marginal plateau Marginal Posterior Mode Marginal Private Costs Marginal probability Marginal probability Marginal probability Marginal product Marginal product of capital Marginal Product of Labor Marginal Productivity of Capital Marginal Productivity of Capital marginal productivity theory marginal profit Marginal propensity to consume Marginal propensity to consume Marginal propensity to consume Marginal propensity to consume Marginal Propensity to Consume Locally Marginal Propensity to Invest Marginal propensity to save Marginal rate Marginal rate Marginal rate Marginal rate Marginal Rate of Return Marginal rate of substitution Marginal rate of technical substitution Marginal Rate of Transformation Marginal rates Marginal rates Marginal rates Marginal rates Marginal Reflex Distance marginal relay marginal release Marginal Reliability Importance Marginal Return Marginal Return on Investment Marginal revenue Marginal revenue Marginal revenue Marginal Revenue Product of Labor

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