This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: How does the market for inputs like labor differ from the market for goods and services? What ... (Read 112 times)

jCorn1234

  • Hero Member
  • *****
  • Posts: 545
on: Jun 29, 2018
How does the market for inputs like labor differ from the market for goods and services?
 
  What will be an ideal response?

Question 2

What is pure rent?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

tuwy

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 29, 2018
Answer to Question 1

A factor of production is used in the production of other goods. The market for factors of production like labor is different from the market for goods and services in that the demand for factors is derived from the demand for final goods and services.

Answer to Question 2

Pure rent is the return to any factor of production that is fixed in supply.


jCorn1234

  • Member
  • Posts: 545
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

carlsona147

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

(a) Feeding by bear on salmon results in large allochthonous inputs of nutrients into (b) the forest (a) Feeding by bear on salmon results in large allochthonous inputs of nutrients into (b) the forest
Stages of Labor Stages of Labor
Example of Health Care Services Example of Health Care Services
How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Video: Introduction to Autism

For a complete list of videos, visit our video library