The Marginal Product of Labor
- Title:
- The Marginal Product of Labor
- Description:
-
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In this video on the marginal product of labor, we discuss some commons questions such as: How are wages determined? Why do most Americans earn so much by global standards? What exactly is meant by ‘human capital’? Do labor unions help workers, and if so, by how much? How does discrimination affect labor markets? How is the demand for labor different than the demand for a good? We’ll discuss how to derive the demand for labor based on the marginal product of labor, and use real-world examples — such as the demand for janitors in a fast food restaurant — to illustrate this calculation. We’ll also cover an individual’s labor supply curve vs. market supply of labor.
Microeconomics Course:http://mruniversity.com/courses/principles-economics-microeconomic
Ask a question about the video: http://mruniversity.com/courses/principles-economics-microeconomics/labor-economics-marginal-product-labor#QandA
Next video: http://mruniversity.com/courses/principles-economics-microeconomics/human-capital-wages-education-globalization
- Video Language:
- English
- Team:
- Marginal Revolution University
- Project:
- Micro
- Duration:
- 10:22
John Silva edited Portuguese, Brazilian subtitles for The Marginal Product of Labor | ||
John Silva edited Portuguese, Brazilian subtitles for The Marginal Product of Labor | ||
John Silva edited Portuguese, Brazilian subtitles for The Marginal Product of Labor | ||
John Silva edited Portuguese, Brazilian subtitles for The Marginal Product of Labor | ||
John Silva edited Portuguese, Brazilian subtitles for The Marginal Product of Labor | ||
John Silva edited Portuguese, Brazilian subtitles for The Marginal Product of Labor | ||
Mai Phương edited Vietnamese subtitles for The Marginal Product of Labor | ||
Khuê Dương edited Vietnamese subtitles for The Marginal Product of Labor |