Chapter 25 - The Demand for ResourcesThis is a featured page

  • Money-income determination
  • Cost-minimization
  • Resource allocation
  • Policy issues

  • Resource Demand as Derived Demand
  • Marginal Revenue Product
  • Rule for Employing Resources: MRP = MRC
  • MRP as Resource Demand Schedule
  • Resource Demand under Imperfect Product Market Competition
  • Market Demand for a Resource

Determinants of Resource Demand
  • Changes in product price
  • Changes in productivity
  • Changes in the prices of other resources

Elasticity of Resource Demand Optimal Combination of Resources
  • The least-cost rule
  • The profit-maximizing rule

Optimal Combination of Resources

Marginal Productivity Theory of Income Distribution

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