Topics and times listed below.
Factor Markets in the Circular Flow Model - :45
Characteristics of a Perfectly Competitive labor market – 4:00
Graphing the market for labor – 6:41
Derived demand defined – 7:44
Marginal Factor Cost defined – 9:53
Marginal Revenue Product defined – 11:42
MRP = MFC – 14:13
Graphing the perfectly competitive labor market and firm – 14:54
Demand for labor defined – 16.29
Determining Wage – 18:29
Practice – 19:50
Answers – 21:30
