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Nilanjan Bhowmick AIR 3, CSIR NET (Earth Science)
- UGC NET
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Hat is not correct regarding aasumptions of adding-up problem ? (1) (3) 27 (2 (4) risk-free static economy constant returns to scale applicable in the short-run
hat is not correct regarding aasumptions of adding-up problem ? (1) (3) 27 (2 (4) Risk-free static economy Constant returns to scale Applicable in the short-run Perfect competition (1) (2 (3) sftrafreT (4) 28. The marginal revenue productivity of a labour for a firm expressesS () Marginal cost of a labour (2 13) (41 Marginal wage Demand for labour of a firm Increase in the marginal productivity of a labour 1) (2 54zA4. PLEASE TELL THESE QUESTIONS
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Nidhi taparia
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The wrong assumption among these is number (2). Adding up problem pertains to long run, and not short run. The adding-up problem is more popularly known as the product exhaustion theorem. In essence, this theorem states that if all factors of production are paid according to their marginal productivities, they will exhaust the total product.
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