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Ch. 15 - Markets for the Factors of ProductionWorksheetSee all chapters
All Chapters
Ch. 1 - Introduction to Microeconomics
Ch. 2 - Introductory Economic Models
Ch. 3 - Supply and Demand
Ch. 4 - Elasticity
Ch. 5 - Consumer and Producer Surplus; Price Ceilings and Floors
Ch. 6 - Introduction to Taxes and Subsidies
Ch. 7 - Externalities
Ch. 8 - The Types of Goods
Ch. 9 - International Trade
Ch. 10 - The Costs of Production
Ch. 11 - Perfect Competition
Ch. 12 - Monopoly
Ch. 13 - Monopolistic Competition
Ch. 14 - Oligopoly
Ch. 15 - Markets for the Factors of Production
Ch. 16 - Income Inequality and Poverty
Ch. 17 - Asymmetric Information, Voting, and Public Choice
Ch. 18 - Consumer Choice and Behavioral Economics
Sections
The Production Function and Marginal Revenue Product
Demand for Labor in Perfect Competition
Shifts in Labor Demand
Supply of Labor in Perfect Competition
Shifts in Labor Supply
Differences in Wages
Discrimination
Other Factors of Production: Land and Capital
Unions
Monopsony
Bilateral Monopoly
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Next SectionDemand for Labor in Perfect Competition

Concept #1: The Factors of Production

Concept #2: Marginal Revenue Product (Value of the Marginal Product of Labor)

Example #1: Marginal Revenue Product

Next SectionDemand for Labor in Perfect Competition