Chapter 13
Economics for Labor Markets
Facteurs de production
Production involves the creation of physical products such as cars, televisions, and pens or intangible products such as education, travel, and cleaning ...
La demande de main-d’œuvre : ferme
For a firm, demand for a factor of production, such as labor, is the number of employees it seeks to hire during a given time period for a particular ...
La demande de main-d'œuvre de l'entreprise qui maximise le profit concurrentiel : hypothèses
A few assumptions are made to analyze the demand for labor by a firm.
Consider a firm operating a mango orchard. The firm is assumed to be ...
Le produit marginal du travail I
The marginal product of labor, or MP_L, is the additional output that results from adding one more unit of labor, holding all other inputs constant.
For ...
Le produit marginal du travail II
The marginal product of labor or MP_L is calculated as the quotient of change in the quantity of output to change in the quantity of labor while keeping ...
La valeur du produit marginal du travail et la demande de travail
The marginal product of labor or MP_L shows the additional units of the product manufactured by hiring another unit of labor while keeping other inputs ...
La décision de l'entreprise concurrentielle d'embaucher de la main-d'œuvre
For a competitive firm, such as a mango orchard, the value of the marginal product curve or VMPL is the labor-demand curve.
This firm faces a ...
La demande de main-d’œuvre sur le marché
In a perfectly competitive labor market, numerous firms or employers demand services of labor. Workers are paid wages for the services that they offer to ...
L’offre marchande de main-d’œuvre
Labor is a unique factor of production. While labor is demanded by firms, it is supplied by individuals living in households.
The market supply curve of ...
Équilibre sur le marché du travail
In a competitive labor market, where numerous firms buy labor services, and many workers sell them, the equilibrium wage rate is set by labor demand and ...
Évolution de la demande de main-d’œuvre I
The market demand curve for labor is downward sloping. It reflects the value of the marginal product of labor.
When the price of the product changes, it ...
Évolution de la demande de main-d’œuvre II
Technological changes can shift the market demand curve for labor. If the new technology complements labor productivity, the demand for labor will shift ...
Changement dans l’offre de main-d’œuvre
A rightward shift in the supply curve for the labor market shows an increase in the labor supply. This means that more workers are willing to work at each ...
Effet sur l’équilibre : déplacement de l’offre de main-d’œuvre
A shift in the market supply of labor affects the equilibrium wage in the labor market.
Consider a perfectly competitive labor market where agriculturists ...
Effet sur l’équilibre : déplacement de la demande de main-d’œuvre
The market demand curve for labor also reflects the value of the marginal product of labor or VMPL. So, something that changes the VMPL, such as an ...
L’arbitrage entre travail et loisirs
In economics, time usually has two uses. People either work or spend time on leisure.
People earn wages by working. These wages are the income used to ...
Fourniture de main-d’œuvre en flexion vers l’arrière
The labor supply curve of an individual shows the relation between wage rate and the quantity of labor supplied measured in hours worked.
The reservation ...
Les autres facteurs de production
Apart from labor, there are two other important factors of production for which the firm wants to determine the optimum level to be used. These are land ...
Rente d’équilibre : le marché de la terre
The landowners supply land, and producers rent it.
For example, farmers rent land to grow corn.
When landowners charge higher rent, the quantity of land ...
Rente d’équilibre : le marché du capital
Capital is used to produce goods and services. For an orchard, capital includes heavy machines such as tractors and simple equipment such as ladders and ...
Liens entre les facteurs de production
Factors of production are interlinked.
For example, a natural calamity that leads to the loss of human lives decreases the market supply of labor. This ...
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