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Microeconomics II
book

Microeconomics II

by D.N. Dwivedi
August 2011
Intermediate to advanced content levelIntermediate to advanced
368 pages
14h 51m
English
Pearson India
Content preview from Microeconomics II
The Factor Market: Factor Demand and Supply 159
Peculiarities of Factor Demand and Supply
e theory of factor pricing is not fundamentally dierent from the theory of product pricing. Both prod-
uct and factor prices are essentially determined by the interaction of demand and supply forces. In case of
factor pricing, demand and supply forces refer to demand for and supply of factors of production. As in
case of product pricing, the basic function of the theory of factor pricing is to explain the determinants of
demand for and supply of a factor and to show how demand and supply interact to determine the price of
a factor. However, both demand ...
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Publisher Resources

ISBN: 9788131797655