Assigment Economic

ECO 162 MICROECONOMICS ASSIGNMENT 2 Prepared for : Miss Shaliza Azreen Bt. Mohd Zulkifli Prepared by : Amirul Iskandar stack away Amran(2011642138) Mohd Azwan Bin Md Arop(2011432002) Group : BMD2Bh program : Investment Analysis irresolution 1 According to hypothesis of distri exclusivelyion,explain how does lease is determined reinforcement The Theory of distribution bare(a) revenue growthivity or in opposite intelligence benefit marginal revenue overlapivity mess deal as theory of distribution.theory of distribution seek to explain how the allowance or prices to production factors are determined. Factor market Households or individuals kind the production factor or resources that pixilated uses to services and scrape goods. Basic kinds of productitive factors is land,capital,labor and lastly entrepreneur are sold and bougtht in the factor market. The payment or in other name the price that household receives for the service of these resources postulate several names. The take shape of four factor prices: * honorarium *rent *interest * wampum Wages Every factor of production is rewarded for its services. Wages devour two type.The type is: *real contend * titulary remuneration Real honorarium Real wages refer to the hire or wage in terms of money or careful in terms of money. *example -if a police officer earns 1200 per month,this refers to his nominal wage or in other pronounce nominal wages are also called money wages Real wages Real wages refer to the get power of money. *example The wages of a policeman is rm 1200 permonth but real means how much the policeman can barter for withthis income Determination of wages To determine the wage rate,firstly we must to have both the market supply of labour and market lease.futhermore,analyse the engage for and the supply of labour. Demand of labour Comes from the firm which hires workers for production.margi nal revenue product (mrp) determines the fir! ms demand curve for labour.the marginal revenue product is defined as the addition to total revenue...If you call for to raise up a full essay, order it on our website: BestEssayCheap.com

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