Economics (McConnell) AP Edition, 19th Edition

Chapter 12: The Demand for Resources

The content of this chapter may be included on the AP* Microeconomics exam.

After reading this chapter, you should be able to:

1. Explain the significance of resource pricing.
2. Convey how the marginal revenue productivity of a resource relates to a firm's demand for that resource.
3. List the factors that increase or decrease resource demand.
4. Discuss the determinants of elasticity of resource demand.
5. Determine how a competitive firm selects its optimal combination of resources.

AP Chapter 12 Introduction (9.0K)