Equilibrium for factors of production

Reference no: EM133382649

Learning Outcomes

1. Analyze a market supply, demand, and equilibrium for factors of production, including labor
2. Apply key principles of economics to a market for factors of production
3. Explain the income and substitution effects of a wage change in a labor market
4. Explain why wages differ across occupations and levels of human capital
5. Reflect on your learning experiences

Read the following to prepare for this week:

Survey of Economics, Chapter 10: Imperfect Information, External Benefits, and External Costs

Reference no: EM133382649

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Equilibrium for factors of production : Analyze a market supply, demand, and equilibrium for factors of production, including labor 2. Apply key principles of economics to a market for factors

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