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WAGES
KEYNESIAN ANALYSIS We shall now briefly summarise the Keynesian analysis regarding the relationship between wages and employment as under: (1) In the first place, Keynes agreed with the classical economists that other things being equal, employment varied inversely...
WAGES
When Price Discrimination is Possible I already mentioned, a monopolist can practise price discrimination by dividing his market into submarket and charging different prices in the monopolist can keep these sub-narke absolutely separate. According to Pigou, there are...
WAGES
Capital output Ratio Capital-output Ratio meaning. Apart from the ratio of tion to the aggregate national income the r output depend upon the couple outpct capital-output ratio may be defined as the relationship of investment JO a given cc n my or in given time I...
WAGES
Conclusion We may thus conclude that perfectly competitive markets are con distant with the attainment of maximum social welfare On the other hand monopoly monopolistic competition and oligopoly do not promote social welfare because of some inherent ...
WAGES
Marginal Social Productivity Criterion A more general criterion of indictment proposed is that of social marginal productive According to this criterion. those investments should be made in which social marginal productivity is the highest. Those who advocate social...
WAGES
Monopolistic Competition Under monopolistic competition, efficient all nation of resources is not possible as under perfect competition .. Under monopolistic competition. the demand curve is not tangential to the average cost survey at its lowest or optimum point....
