Overview of this class
Production Function
Production Function (cont.)
Total Factor Productivity
Cobb-Douglas production function
Draw production function
The Production Function (graph)
Graphing the production function
Shifting the production function
Demand for Labor
Marginal Benefit and Marginal Cost
Hiring Decision
Hiring Decision (graphically)
Shifting the labor demand curve
Labor Supply
Effect of a wage increase
Income and Substitution Effects
Labor Market
Factors which shift the labor supply curve
Factors which shift labor supply curve
Labor Market Equilibrium
Full employment output
Real world application
PPT Slide
Is technology good for workers?
Questions to keep in mind
Email: econ@edwardmcphail.com
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