- The Firm’s Demand Curve for a Factor
a. The MRP Curve Is the Factor Demand Curve
b. Elasticity of the Firm’s Factor Demand Curve
a. 1. The Elasticity of Demand for the Firm’s Product
b. 2. The Firm’s Ability to Substitute Between Factors - The Market Demand Curve for a Factor
a. Shifts of the Market Factor Demand Curve
a. A Change in the Factor’s Marginal Product
b. A Change in Firms’ Marginal Revenue
c. A Complication
D. 13.2 The Supply of Factors - The Supply of Factors to the Economy
a. Physical Capital
b. Land
c. Labour
a. Population
b. Labour-Force Participation
c. Hours per Person - The Supply of Factors to a Particular Industry
a. The Mobility of Capital
b. The Mobility of Land
c. The Mobility of Labour - The Supply of Factors to a Particular Firm
E. 13.3 Factor Markets in Action - Differentials in Factor Prices
a. Temporary Differentials
b. Equilibrium Differentials
rishikesh
(rishikesh)
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