Unit 4: Labor and Efficiency: Resource Markets, Inequality, and Immigration

Lesson 12a: Demand For Resources

Assignments: Readings

pp. 312-321, 322-324, (19th, 248-257, 260-261), "Significance of Resource Pricing", "Marginal Productivity Theory of Resource Demand", "Determinants of Resource Demand", "Elasticity of Resource Demand", "The Profit-Maximizing Rule", NOT "The Least Cost Rule" Lecture Outline

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