Sentence examples for of marginal productivity from inspiring English sources

The concept of marginalism in consumption led eventually to the idea of marginal productivity in production, and with it came a new theory of distribution in which wages, profits, interest, and rent were all shown to depend on the "marginal value product" of a factor.

The demand side of the markets for productive factors is explained in large degree by the theory of marginal productivity, but the supply side requires a separate explanation, which differs for land, labour, and capital.

This theory of marginal productivity lies at the heart of the orthodox economic theory of labour.

The theory of marginal productivity is taught every year to millions of college students around the world.

Their impact on the tests of the equality of marginal productivity and wages is therefore diminished.

In the restricted model, the equality of marginal productivity and wage is tested by comparing the attendance coefficients, θ and ζ.

With the full set of controls, our estimate of the overall effect of attendance on marginal productivity (0.46) is almost identical to its estimated effect on wages (0.47).

Probably there are limits — sometimes the degree of exploitation is expressed as the ratio of wages to marginal productivity of labor, and when that ratio gets down to zero – that's a limit!

Such management implies the antithesis of marginal-productivity theory for two reasons.

A particular application of marginalist analysis (a refinement of marginal-productivity theory) became known as human-capital theory.

The expectation of earnings corresponds to marginal productivity, which for β>0 decreases in the fraction l of the labor force that chooses the costly option of drawing earnings from (1).