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Chapter 20 The Factor Market

Chapter 20 The Factor Market

Author: Matthew Lonn
Description:

Students will examine the difference between the factor market and the product market. They will understand what factors make up the demand and supply of labor in the factor market. 

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Tutorial

Questions you should be able to answer after the lesson.

What is the difference between the Resource Market and the Product Market?

What does a marginal resource cost curve demonstrate?

How do I calculate the Value of the Marginal Cost of Labor?

What factors can influence the supply of labor?

Chapter 20 Notes

Explanation of Resource Market