Factor payments

The optimal price for the factor of production is determined by the demand and supply of factor of production

The optimal demand for labor force is determined where Marginal Product equals real wage rate

Payments made of scarce resources, or the factors of production in return for productive services. They are also categorized according to the services of the productive resources being rewarded. As wages are being paid for services of labor, interest is paid for the services of capital, rent is paid for the services provided by the land and profit is for the factor of payment to entrepreneurship.

单词	Factor payments
释义	Factor payments 英语百科 Factor payments Payments made of scarce resources, or the factors of production in return for productive services. They are also categorized according to the services of the productive resources being rewarded. As wages are being paid for services of labor, interest is paid for the services of capital, rent is paid for the services provided by the land and profit is for the factor of payment to entrepreneurship.
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