Economics (McConnell), AP* Edition, 20th EditionChapter 14:
The Demand for Resources After studying this chapter, you should be able to: LO 14.1 | Explain the significance of resource pricing. | LO 14.2 | Convey how the marginal revenue productivity of a resource relates to a firm's demand for that resource. | LO 14.3 | List the factors that increase or decrease resource demand. | LO 14.4 | Discuss the determinants of elasticity of resource demand. | LO 14.5 | Determine how a competitive firm selects its optimal combination of resources. | LO 14.6 | Explain the marginal productivity theory of income distribution. |
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