Resource Market, MRP and MRC

This Resource Market, MRP and MRC video also includes:

Young economists practice calculating the number of workers a firm should hire in a perfectly competitive labor market to maximize profit, as well as the given output of a perfectly competitive product market.

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CCSS: Adaptable
Classroom Considerations

  • Learners should understand the concepts of marginal product and marginal revenue product prior to beginning video
Pros

  • Instructor in video prompts viewers to practice completing sample problems, and then explains the solutions to those problems
  • Uses hypothetical scenario and graphing on a whiteboard to explain answers
Cons

  • None
Common Core