Perfectly Competitive Factor Markets

Concepts

Perfectly Competitive Labor Market
- Side by Side Graphs
  - Market Graph
    - Market Supply
    - Market Demand
    - Market Equilibrium
  - Firm Graph
    - Firm Supply
      - Wage Taker (S=W=MFC=AC)
      - Perfectly Elastic Supply
    - Firm Demand
      - Marginal Revenue Product of Labor (MRP)
    - Hiring Decision for Profit Maximization (MFC=MRP)
Perfectly Competitive Capital Market
- Side by Side Graphs (Same as Labor with One Exception)
  - Marginal Revenue Product of Capital
Perfectly Competitive Land Market

Coming Soon

Perfectly Competitive Factor Markets Lecture Video

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