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 120 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
YES! Correct, THANKS for helping me on my review

LegendaryAnswers

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

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?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

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).

Many types of edible fungi are grown for the market. Many types of edible fungi are grown for the market.
Inputs and Outputs of the Cerebellum Inputs and Outputs of the Cerebellum
When the IQ scores of identical twins differ, behavior genetics researchers attribute these to ... When the IQ scores of identical twins differ, behavior genetics researchers attribute these to ...
CPT Modifiers Used for Medical Office Services CPT Modifiers Used for Medical Office Services
HCPCs Modifiers Used for Medical Office Services HCPCs Modifiers Used for Medical Office Services
North Korea: Labor Issues North Korea: Labor Issues
Video: Carbohydrate Metabolism: Introduction to renal processes and filtrate formation and composition

For a complete list of videos, visit our video library