Tag Archives | determined

How the price of a factor of production is determined by the forces of demand and supply?

How the price of a factor of production is determined by the forces of demand and supply? The marginal productivity theory of factor pricing is Incomplete by itself. It suffers from many defects.

By Varun|2011-06-17T17:25:42+00:00June 17, 2011|Economics|Comments Off

How is price determined under perfect competition?

How is price determined under perfect competition? There was a controversy among earlier economists as to whether the supply of a good or the demand for it goes to determine price of a commodity under perfect competition.

By Varun|2011-06-17T14:31:47+00:00June 17, 2011|Economics|Comments Off

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