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Lecture 18: Factor Markets

Lecture 18: Factor Markets

This video was recorded at 14.01SC Principles of Microeconomics, Fall 2011. Earlier in the semester, we discussed the labor supply decisions made by consumers when deciding how much they should or should not work. However, firms have the power to decide how many workers to hire. This lecture focuses on the operation of firms in the factor markets that supply the factors (labor and capital) they use in production.... Show More


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