a
unionized labour market
b
perfectly competitive market
c
monopsonistic market only
d
monopolistic market only
Explanation
Correct Option
bVideo Explanation
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Discussions (3)
Yricidri
5 years ago
the answer is wrong. the answer is b not d. Marginal productivity theory states that under perfect competition, price of each factor of production will be equal to its marginal productivity. Therefore, it applies in perfectly competitive market.
Yricidri
5 years ago
The answer is wrong.The answer is b not d. Marginal productivity theory states that under perfect competition,price of each factor of production will be equal to its marginal productivity. Therefore,it applies only in perfectly competitive market not monopolistic market.
