Unit+4+–+Factor+Markets

=**Factor Markets**=

Reading:

 * McConnell & Brue: Chapters 25, 26, 27
 * Morton & Goodman: Unit 4

Key Concepts:

 * derived demand for resources
 * marginal revenue product = marginal resource cost
 * labor market
 * unions
 * market distribution of income
 * rent

Graphs & Charts:
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 * supply and demand of labor
 * minimum wage
 * monopsonies and monopolies
 * effect of unions
 * S&D of land

Miscellaneous:
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 * [[file:Factor Markets.Derived Demand.pdf]]
 * [[file:Unit 4 Sample Questions - MC.pdf]]
 * [[file:Unit 4 Sample Questions - SFR.pdf]]
 * [[file:Unit 4 Sample Questions - LFR.pdf]]