Chapter 18 - The Markets for teh Factors of ProdcutionThis is a featured page

1. How is the demand for factors determined?

2. What shifts this demand?
  • Change in...
    • price of product
    • productivity
    • price of substitute
    • consumer preferences
    • demand for product

3. How are wages determined in a competitive labor market? How is this meaningful to the firm?

4. What influences the supply of labor?
- changes in taste
- changes in alternative opportunites
- immigration

5. What determines the equilibrium in the markets for land and capital?


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eivanowicz
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