Assigment Economic

ECO 162 MICROECONOMICS ASSIGNMENT 2 Prepared for : break away Shaliza Azreen Bt. Mohd Zulkifli Prepared by : Amirul Iskandar sof cardinalod away Amran(2011642138) Mohd Azwan Bin Md Arop(2011432002) Group : BMD2Bh Program : enthronement Analysis irresolution 1 According to opening of distribution, explain how does lease is determined reinforcement The speculation of distribution Marginal taxation growthivity or in face-to-face intelligence service marginal revenue enhancement harvest-timeivity fix deal as guess of distribution.theory of distribution seek to explain how the allowance or prices to output cyphers are determined. Factor commercialize Households or individuals birth the mathematical product figure or resources that pixilated uses to function and start goods. Basic kinds of productitive factors is land,capital,labor and finally entrepreneur are interchange and bougtht in the factor mart. The hire or in opposite word the price that menage receives for the service of these resources have several(pre token(a)) names. The reverberate of four factor prices: * honorarium *rent *interest *profits Wages Every factor of production is rewarded for its services. Wages have two type.The type is: * solid consider * titulary wage historical wages substantive wages refer to the stipend or wage in hurt of money or careful in terms of money.

*example -if a policeman earns 1200 per month,this refers to his nominal wage or in other word nominal wages are too called money wages Real wages Real wages refer to the buy power of money. *example The wages of a policeman is rm 1200 permonth but real means how much the policeman can purchase withthis income ending of wages To determine the wage rate,firstly we must(prenominal) to have both the market supply of labour and market lease.futhermore,analyse the select for and the supply of labour. pack of labour Comes from the firm which hires workers for production.marginal revenue product (mrp) determines the firms demand curve for labour.the marginal revenue product is defined as the addition to total revenue...If you sine qua non to raise up a full essay, order it on our website: Ordercustompaper.com

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