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This video lesson is from the 2003B AP Microeconomics Exam. This video is designed for students to practice the question to enhance their content knowledge on factor markets, and as a resource for teachers to use in their classroom. There is no audio in this video lesson, just a continuous video of the questions and answers. The overall objective is for students to pause the video, answer the questions, and play the video to see if they get the questions correct. This is where teachers can explain why the answer is correct to their students if needed. I hope you find this video lesson helpful. Part (a) using marginal analysis, state the condition for employing the profit-maximizing number of workers. Part (b) How many workers should be hired to maximized profit? Explain how that number that number was derived. Part (c) If the wage rate decreases, how many workers would be employed? Part (d) how many workers would be employed if the price of the product decreases?
