Lecture Understanding economics (2nd edition): Chapter 7 - Mark Lovewell, Khoa Nguyen

Chapter 7 - Wages, rent, interest, and profit. In this chapter you will consider how businesses choose the profit-maximizing amount of a resource they use when they are price-takers in the product markets in which they sell their products; look at the case where businesses are price-makers in their product markets and analyze the factors that change resource demand and affect the price elasticity of resource demand;...

Từ khóa: Understanding economics, Lecture Understanding economics, Economic problem, Economic systems, Demand for resources, Competitive labour market