Which of the following is not included in the assumptions of Clark's marginal productivity theory of…
J.B. Clark's marginal productivity theory of distribution assumes a static economy with constant population, constant capital, constant technology (no technological…
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Which of the following is not included in the assumptions of Clark's marginal productivity theory of distribution ?
Answer and explanation
Correct answer C
J.B. Clark's marginal productivity theory of distribution assumes a static economy with constant population, constant capital, constant technology (no technological innovation), perfect competition, and homogeneous, mobile labour.
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