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Chapter 18-19

TRANSCRIPT

18The Markets for the

Factors of Production

The Markets for the Factors of Production

Figure 1a The Versatility of Supply and Demand

Figure 1b The Versatility of Supply and Demand

Table 1 How the Competitive Firm Decides How Much Labor to Hire

Figure 2 The Production Function

Figure 3 The Value of the Marginal Product of Labor

Figure 4 Equilibrium in a Labor Market

Figure 5 A Shift in Labor Supply

Figure 6 A Shift in Labor Demand

Table 2 Productivity and Wage Growth in the United States.

Figure 7a The Markets for Land and Capital

Figure 7b The Markets for Land and Capital

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MICROECONOMICSocw.upj.ac.id/files/Handout-BMG105-Ekonomi-Mikro-Kuliah-14.pdf · determined by supply & demand in factor markets. CHAPTER 18 THE MARKETS FOR THE FACTORS OF PRODUCTION

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