Economy, asked by aishu664, 11 months ago

Clark's marginal productivity theory of distribution

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Answered by amritaraj

Answer:

Explanation:

J. B. Clark's MP theory of distribution states that price of any input is determined according to the marginal product of that input. Thus, the price of labour—the wage rate—is determined by the volume of marginal product, or to be more specific, the value of marginal physical product (VMP).

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