Explain the firm and market graph in a factor market. Explain how the term "derived demand"...

Explain the firm and market graph in a factor market. Explain how the term "derived demand" applies and why a firm should produce where MRP=MRC.

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Rahul Sunny answered 1 year ago

Factor market demand is called a derived demand because it ...

Factor market demand is called a derived demand because it a.) derives its name from the Latin factors. b.) is derived from the market wage received by workers. c.) is derived from the productivity of workers. d.) is derived from the product market.

Describe how total market demand for private and public goods are derived. Explain why these two...

Describe how total market demand for private and public goods are derived. Explain why these two types of demand curves are derived differently. The use of diagrams will make this question easier to answer.

Labour As A Resource Market Questions 1. Explain the difference between direct demand and derived demand....

Labour As A Resource Market Questions 1. Explain the difference between direct demand and derived demand. 2. Why would a firm seek to equate its marginal revenue product of labour (MRPL) with the market wage rate? 3. Explain what the term productivity means and why an improvement in productivity shifts the demand curve for labour. 4. What is the opportunity cost of someone offering his or her labour skills in the workplace? 5. Summarize the factors that can influence the...

1. Explain the main actors in the labour market. 2. Demand for labour is a derived...

1. Explain the main actors in the labour market. 2. Demand for labour is a derived demand. Explain this statement. Give another example to illustrate the concept of derived demand. 3. Explain two reasons why the labour market is unique 4. Mention four characteristics of the Ghanaian labour market 5. What are labour market outcomes? Give two examples. labour economics question for final year University students.

Explain the term “elasticity” in economics. Show several examples and demonstrate how these elasticities are derived.

Explain clearly using an example how the demand for pure public and private goods is derived?...

Explain clearly using an example how the demand for pure public and private goods is derived? How is the efficient output obtained in each good?

1. a. Graph a competitive firm and market in long-run equilibrium; Explain why it is a...

1. a. Graph a competitive firm and market in long-run equilibrium; Explain why it is a long run equilibrium. b. Graph and explain what happens in the short run with a supported price floor. c. Assume this is an increasing cost industry. Graph and explain each step through the LR. d. Show the same but for a price ceiling. 2. Show that whether the producers or consumers directly pay the per-unit tax does not matter. Explain what does determine who...

The graph shows the market for tutoring in economics at a university. A graph plots demand...

The graph shows the market for tutoring in economics at a university. A graph plots demand and supply curves with Quantity (hours of tutoring per week) along the horizontal axis and Price (per hour of tutoring) along the vertical axis. The supply curve starts at 2.50 dollars on price and has a positive slope. The demand curve starts at 25 dollars on price and has a steep negative slope. The curves intersect at 300 hours on quantity, 10 dollars on...

The graph shows the market for tutoring at a university. A graph plots demand and supply...

The graph shows the market for tutoring at a university. A graph plots demand and supply curves with Quantity (hours of tutoring per week) along the horizontal axis and Price (per hour of tutoring) along the vertical axis. The supply curve starts at 2.50 dollars on price and has a positive slope. The demand curve starts at 25 dollars on price and has a steep negative slope. The curves intersect at 300 hours on quantity, 10 dollars on price. The...

1A) Using the liquidity framework, explain supply and demand in the money market include a graph....

1A) Using the liquidity framework, explain supply and demand in the money market include a graph. 1B) Using the loanable funds model, describe the relationship between bond prices and the interest rate.

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