RafordBoddyandRogerFrantzandBarbaraPoe-TierneySDOSJournal of Behavioral EconomicsBoddy, Raford, Roger Frantz, and Barbara Poe-Tierney. 1986. "The Marginal Productivity Theory: Production Line and Machine Level by Work-Shift and Time of Day." Journal of Behavioral Economics 15:1-23....
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role for firm survival; in the ‘intermediate’ stage, both age and productivity play a role in reducing firms’ hazard rates. Boyer and Blazy (2014) find that the variables related to human capital or personal characteristics have a significant and sustainable impact on the survival of innovativ...
Low elasticity of substitution in the manufacturing sector implies that the marginal productivity of labor in that sector will decrease rapidly as a consequence of decapitalization; therefore, labor will shift to the tertiary sector. Alternatively, if preferences and technology are not homothetic, then...
Related to marginal utility:Diminishing marginal utility,Total Utility ThesaurusAntonymsRelated WordsSynonymsLegend: Switch tonew thesaurus Noun1. marginal utility- (economics) the amount that utility increases with an increase of one unit of an economic good or service ...
At a certain point, marginal returns start to decrease; that's where the law of diminishing returns sets in. Law of diminishing returns use cases and examples The law of diminishing returns originated in classic economic theory. It's one of the most recognized economic principles. The following...
A positive IST shock, by increasing the productivity of the investment sector, diverts labor from the consumption to the investment sector. The drop in labor in the consumption sector induces a drop in current consumption and an increase in the household’s marginal utility, leading to a ...
What are the limitations of the purchasing power parity theory? Answer: POSSIBLE RESPONSE: There are two versions of purchasing power parity theory. Absolute purchasing power parity states that a bundle of tradable products will have the same cost in different countries if this cost is stated in ...
That is, I am holding physical capital and total factor productivity (TFP) constant in each sector in making my calculations, and hence the marginal product of human capital falls as more human capital flows into a sector. In a dynamic setting, physical capital would accumulate in response to...