Marginal revenue productivity theory of wages
id:
marginal-revenue-productivity-theory-of-wages-234-3318494
title:
Marginal revenue productivity theory of wages
text:
The marginal revenue productivity theory of wages is a model of wage levels in which they set to match to the marginal revenue product of labor, M R P , which is the increment to revenues caused by the increment to output produced by the last laborer employed. In a model, this is justified by an assumption that the firm is profit-maximizing and thus would employ labor only up to the point that marginal labor costs equal the marginal revenue generated for the firm. This is a model of the neoclass
brand slug:
wiki
category slug:
encyclopedia
description:
Model of wage levels
original url:
https://en.wikipedia.org/wiki/Marginal_revenue_productivity_theory_of_wages
date created:
date modified:
2024-04-06T16:43:27Z
main entity:
{"identifier":"Q3486660","url":"https://www.wikidata.org/entity/Q3486660"}
image:
fields total:
13
integrity:
14