Chapter 10 Pricing in Factor market 要素市场定价理论 公北家 C 2005 MOL
1 Chapter 10 Pricing in Factor Market 要素市场定价理论 © 2005 MOL
Review: Firm and household decisions Goods and services Input (factor) markets L apital market Capital stock (financial markets) Wealth三
2 Review: Firm and Household Decisions
Chapter 10 includes: 10. 1 Introduction to Factor Market 10.2 The market demand for the factors of Production 10.3 Labor Market equilibrium 10. 4 other factors of production - Land and Capital 10. 5 Monopoly and monopsony power in the labour market
3 Chapter 10 includes: 10.1 Introduction to Factor Market 10.2 The Market Demand for the Factors of Production 10.3 Labor Market Equilibrium 10.4 Other Factors of Production - Land and Capital 10.5 Monopoly and monopsony power in the labour market
Outlines of Today's class Understand why a firm's marginal revenue product curve MRPfor vmp)is its demand for labor curve Explain in what sense the demand for labor is a derived demand Identify the key factors influencing the elasticity of demand for inputs describe how equilibrium wage rates are determined for perfectly competitive firms
4 Outlines of Today’s Class Understand why a firm’s marginal revenue product curve(MRP)(or VMP) is its demand for labor curve Explain in what sense the demand for labor is a “derived” demand Identify the key factors influencing the elasticity of demand for inputs Describe how equilibrium wage rates are determined for perfectly competitive firms
Readings about this chapter Zhang Chapter 8, P263-279 Nicholson : Chapter 21, p577-604 Chapter 22, 23
5 Readings about this chapter Zhang: Chapter 8,P263-279 Nicholson: Chapter 21, P577-604 Chapter 22,23