Содержание
- 2. Factors of Production Factors of production are the inputs used to produce goods and services.
- 3. The Market for the Factors of Production The demand for a factor of production is a
- 4. The Demand for Labor Labor markets, like other markets in the economy, are governed by the
- 5. The Versatility of Supply and Demand... (a) The Market for Apples (b) The Market for Apple
- 6. The Demand For Labor Most labor services, rather than being final goods ready to be enjoyed
- 7. The Production Function and The Marginal Product of Labor The production function illustrates the relationship between
- 8. How the Competitive Firm Decides How Much Labor to Hire
- 9. The Production Function... 0 50 100 150 200 250 300 350 0 1 2 3 4
- 10. The Production Function and The Marginal Product of Labor The marginal product of labor is the
- 11. Diminishing Marginal Product of Labor As the number of workers increases, the marginal product of labor
- 12. The Production Function... 0 50 100 150 200 250 300 350 0 1 2 3 4
- 13. The Value of the Marginal Product of Labor The value of the marginal product is the
- 14. The Value of the Marginal Product of Labor The value of the marginal product is measured
- 15. The Value of the Marginal Product and the Demand for Labor To maximize profit, the competitive,
- 16. The Value of the Marginal Product and the Demand for Labor The value-of-marginal-product curve is the
- 17. The Value of the Marginal Product of Labor... 0 0 Value of marginal product (demand curve
- 18. Input Demand and Output Supply When a competitive firm hires labor up to the point at
- 19. What Causes the Labor Demand Curve to Shift? Output Price Technological Change Supply of Other factors
- 20. The Labor Supply Curve The labor supply curve reflects how workers’ decisions about the labor-leisure tradeoff
- 21. The Labor Supply Curve Supply Wage (price of labor) Quantity of Labor 0
- 22. What Causes the Labor Supply Curve to Shift? Changes in Tastes Changes in Alternative Opportunities Immigration
- 23. Equilibrium in the Labor Market The wage adjusts to balance the supply and demand for labor.
- 24. Equilibrium in the Labor Market... Supply Wage (price of labor) Quantity of Labor 0 Demand
- 25. Equilibrium in the Labor Market Labor supply and labor demand determine the equilibrium wage. Shifts in
- 26. A Shift in Labor Supply... W1 0 L1 Supply, S1 Demand
- 27. A Shift in Labor Supply An increase in the supply of labor : Results in a
- 28. A Shift in Labor Demand... W1 0 L1 Supply Demand, D1
- 29. Shifts in Labor Demand An increase in the demand for labor : Makes it profitable for
- 30. Three Determinants of Productivity Physical Capital When workers work with a larger quantity of equipment and
- 31. Productivity and Wage Growth in the United States
- 32. Productivity and Wage Growth around the World
- 33. Other Factors of Production: Land and Capital Capital refers to the stock of equipment and structures
- 34. Prices of Land and Capital The purchase price is what a person pays to own a
- 35. Equilibrium in Markets for Land and Capital The rental price of land and the rental price
- 36. The Markets for Land and Capital... Quantity of Land Quantity of Capital Q Q P P
- 37. Equilibrium in Markets for Land and Capital Each factor’s rental price must equal the value of
- 38. Linkages Among the Factors of Production Factors of production are used together. The marginal product of
- 39. Linkages Among the Factors of Production A change in the supply of one factor alters the
- 40. Linkages Among the Factors of Production A change in earnings of any factor can be found
- 41. Summary The three most important factors of production are labor, land, and capital. The demand for
- 42. Summary The supply of labor arises from individuals’ tradeoff between work and leisure. An upward-sloping labor
- 43. Summary The price paid to each factor adjusts to balance the supply and demand for that
- 44. Summary Because factors of production are used together, the marginal product of any one factor depends
- 46. The Versatility of Supply and Demand...
- 47. The Production Function...
- 48. The Value of the Marginal Product of Labor...
- 49. The Labor Supply Curve
- 50. Equilibrium in the Labor Market...
- 51. A Shift in Labor Supply...
- 52. A Shift in Labor Demand...
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