Introduction/Possible Activities:


Objectives:
B. Students should demonstrate an understanding of the process of wage determination in a competitive market by
...
4. Explaining how firms determine the number of workers to hire by
a. Defining Marginal Resource Cost (MRC) and explaining the determination of wages the firm pays.
b. Employing marginal analysis to determine the number of workers hired.
c. Graphing the labor market and a typical firm together and showing
i. Market determination of wages.
ii. The number of workers hired by the firm.
d. Listing and describing the determinants of labor demand and their impact on the firm and market.
e. Explaining the determinants of labor productivity.
f. Graphing and explaining how changes in the supply of or demand for labor affect wages and employment.


Learning Activities:
1. Watch the video below and take notes. Complete the organizer as you view.




2. Complete the following worksheet after having watched the video.


Assessment:


Remediation Checklist:
  • Re-read text.




AP Free Response Practice: