Productivity, Output, and Employment

 

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Table of Contents

Productivity, Output, and Employment

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

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

Labor Market

PPT Slide

PPT Slide

Is technology good for workers?

Questions to keep in mind

Author: Edward McPhail 

Email: econ@edwardmcphail.com

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