1. The theory assumes that all units of labour are homogeneous such that each worker is productive as the other which is not true due to different attributes of workers.
2. The theory assumes perfect mobility of labour which is unrealistic.
3. The theory is valid under perfect competition which do not exist.
4. The theory assumes that amount of labour used in production can be continuously varied.
5. The theory imply that employment can be increased through reducing wages which is not true
Jonmhumble answered the question on October 29, 2017 at 16:21
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