+JT .JT Great to hear! Wage determination in perfectly competitive markets is covered here ua-cam.com/video/Xy_fLczbIOY/v-deo.html. Imperfect competition coming very soon, stay tuned!
It does, the labor supply curve stays the same but the demand curve will shift right until the new MRP is w* at equilibrium. You will have higher wages and higher employment.
My A2 economics paper 3 ;_; and we all know it's gonna have that mandatory labour market essay question that , if nailed, could save our retiree grade :3
You're awesome! Greetings from Brazil!
Great videos, Would it be possible to do a video on Wage determination in perfect and imperfectly competitive markets? Thanks in Advance!
+JT .JT Great to hear! Wage determination in perfectly competitive markets is covered here ua-cam.com/video/Xy_fLczbIOY/v-deo.html. Imperfect competition coming very soon, stay tuned!
Isn’t mrp equal to wage? Doesn’t that mean that when the demand curve shifts to the right wages should also rise?
It does, the labor supply curve stays the same but the demand curve will shift right until the new MRP is w* at equilibrium. You will have higher wages and higher employment.
thank you so much!!!
thank you!
How does the price of capital affect MRP though?
Syed Wasif Ur Rahman 1772782 But How about in terms of the equation, MRP= MPP * MR. How does the price of capital affect MPP or MR?
@@mohamedmahmoud7729 it will decrease labour's mrp relative to that of capital
Can you do a video on whether or not government should interfere or intervene in a market?
+Indi jay Coming up
+EconplusDal thank you! Will all these videos be done before the AS exam on the 16th?
hi there i wanna ask is MRP and VMPL the same thing ??
Educative video
you know your first point being if prices increase mrp will increase... why does this happen Im confused
sir is there any way this labour market playlist will be completed before 18th May?;_;
+Rida Hassan Hi Rida, what is happening on the 18th May?
My A2 economics paper 3 ;_; and we all know it's gonna have that mandatory labour market essay question that , if nailed, could save our retiree grade :3
entire*
+Rida Hassan What is your exam board? Most A2 exams are after half term
+EconplusDal sir , cie Alevels.-. but I live in pakistan so the timetable zone is different I guess.
2024 Exams!?!? VVV
What is PDPC?
Caolán CR It’s an acronym that helps to remember the factors that shift demand for labour, something he made up