DMVPDiscounted Marginal Value Product
References in periodicals archive ?
In other words, the total MVPs of the original factors are now smaller, and therefore the total DMVPs are as well.
It is either specific to this sector or it is not, but if not, its higher DMVP schedule here more than compensates for the lower maximum buying prices in other sectors where it could be employed.
Its DMVP there, and its general DMVP schedule as well, then compensates for the downward pressure related to the monopolist's restriction.
The table below recapitulates for each and every factor with the "+", "-" and "0" signs when factors' DMVP schedules and prices are higher, lower or the same under monopoly than under free market conditions.
their general DMVP schedule is lower as a result of the overall lower position of demand schedules for the goods they help to produce
their general DMVP schedule is unchanged, but the factor is under monopolistic pressure.
30) one must realize, as shown in the table above with factor 1 and factor 3 that a lower general DMVP schedule is not necessary to have a lower price.
38) Factors could be paid under their DMVP in a free market but this would be the consequence of entrepreneurial errors.