The supply of labour in an economy at very high real wages
Increases
Decreases
Remains Constant
No change
Marginal revenue product curve is
An excess demand curve
A supply curve for a factor
A demand curve for a factor
Decrease demand curve
According to modern theory rent arises when
Actual earning exceeds transfer earnings
Actual earning equal transfer earnings
Actual earning falls short of transfer earning
Actual earning decreases transfer earnings
The theory of factor pricing is popularly known as
Theory of Distribution
Theory of Consumption
Theory of Supply
Theory of demand
The demand for a factor is
A direct demand
A derived demand
An excess demand
Decreasing demand
According to the Ricardian theory of rent, the marginal land is one with
No Rent
Low Rent
High Rent
None of these
If supply of a factor is perfectly inelastic the entire earning of the factor is
Quasi Rent
Transfer earning
Rent
Income
Under conditions of perfect competition at the point of equilibrium, a firm's MRP curve is
Falling
Rising
Remaining constant
The minimum supply price of a factor to a use in the
Scarcity Rent
Economic Rent
Transfer Earnings
Distribution of rent
The wage fund theory is developed by
Ragnar Frisch
J.S. Mill
Keynes
Adam smith
