Discussion
The "Marginal Discounted Product of Labour" as a modified version of Marginal Productivity Theory was advanced by
Answer: A
The marginal discounted product of labour, as a modified version of the marginal productivity theory, was advanced by Taussig, the American economist who held that wages equal the discounted marginal product of labour.
Kalecki is wrong because he is known for the degree of monopoly theory. Ricardo is wrong because he is a classical economist known for rent and the wage fund type of ideas. Adam Smith is wrong because he wrote on wages long before marginalism.
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