Videos: Labor Market

While watching the videos, make sure you understand:

  • How are wage rates determined in a competitive market?
  • How is Marginal Revenue Product determined and how is it used to determine profit maximizing level of workers hired.

License

Icon for the Creative Commons Attribution 4.0 International License

ACC Principles of Microeconomics by Lumen Learning is licensed under a Creative Commons Attribution 4.0 International License, except where otherwise noted.