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This video lesson is from the 2006B 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) what conditions are necessary for hiring the profit-maximizing amount of labor? Part (b) what is the marginal product of the last worker hired? Part (c) show the equilibrium amount of labor hired. Part (d) if prices increase, how will the profit-maximizing quantity of labor be affected?
