Studied by 0 people
Leisure
Determinant of Labor Supply
Leisure shifts the supply curve to the ______
left
Number of Alternative options
Determinant of Labor Supply
Immigration
Determinate of Supply
Immigration
Determinant of Labor Supply
Distribution of Age shifts the supply curve to the ____
left
Distribution of Age
Determinant of Labor Supply
Number of Alternative Options shifts the supply curve to the _____
right
Number of Alternative Options
Determinant of Labor Supply
Least-Cost Rule
MPc/Pc = MPL/PL
MP(Additional product form additional labor)
Change of total product/ change Q of labor
MR(Additional money from an additional product)
Change of TR/ change in quantity of product
MPP(marginal physical product)
Change in TP/ change in quantity of resources
Value Marginal product(VMP)
mp x Product price
MRP
MPP x MR
Total factor cost
# of workers x Wage Rate
MFC
change of TFC/Quantity of
AFC
FC(factor cost)/Q
The additional revenue from a additional worker/MRP
Mr x Mp
Note 
Flashcard (48)