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Micro 5.4 Resource Market, MRP and MRC: Econ Concepts in 60
Seconds- Factor Market
[2:54 YouTube ACDC Leadership]
NOTE: Mr Clifford says "MRP = P x MP" This is true ONLY IF
we have a competitive labor market (wage is constant). I
prefer to use the formula: "MRP = change in TR / change in
Qlabor", because this works for ALL labor market
models
NOTE: These are REVIEW videos only.
In order to learn the material you must read the assigned
textbook readings, watch the assigned lecture videos, and do
problems. See the MICWEBAPP
or the LESSONS
link for these assignments.
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