Unit 5 · Factor Markets
上一单元:→ 打开 Unit 4(下)Monopolistic Competition and Oligopoly(与本文件放在同一文件夹)
- 边际产量 MP 与边际收益递减(Unit 3 上册 3.1):多雇一个工人,多出来的产量越来越少——这就是劳动需求向下倾斜的原因。复习:Unit 3(下)及其上册。
- MR:完全竞争企业 MR = P;有市场势力的企业 MR < P(Unit 4 上册 4.2)。
- 边际分析:边际收益 ≥ 边际成本就做,直到两者相等(Unit 1 的 MB = MC、Unit 3 的 MR = MC)。
- 供求图的移动(Unit 2):劳动市场也是一个供求市场,价格叫工资,数量叫就业量。
- 说出生产要素与要素价格,解释“引致需求” · Describe factors of production, factor prices, and derived demand
- 从表格计算 MP、MRP、MRC,并决定雇多少工人 · Calculate MRP and MRC and find the profit-maximizing number of workers
- 解释劳动需求为什么向下倾斜、劳动供给为什么向上倾斜 · Explain the slopes of labor demand and labor supply
- 分析劳动需求和劳动供给的移动对工资和就业的影响 · Analyze shifts in labor demand and supply
- 画出完全竞争劳动市场与企业的并排图,说明企业是工资接受者 · Graph a perfectly competitive labor market and a wage-taking firm
- 用 MP/P 相等找出最低成本的要素组合 · Apply the least-cost rule MPL/W = MPK/r
- 画出买方垄断劳动市场,解释为什么 MFC > 工资,比较买方垄断与完全竞争的工资和就业 · Graph and explain monopsony
- 分析最低工资在完全竞争和买方垄断劳动市场中的不同效果 · Analyze a minimum wage in both labor markets
| Term 术语 | Meaning 含义 | 中文 |
|---|---|---|
| Factor Market | Market where firms buy (hire) factors of production | 要素市场 |
| Factors of Production / Factor Prices | Labor, land, capital (and entrepreneurship) / wage, rent, interest (and profit) | 生产要素 / 要素价格 |
| Derived Demand | Demand for a factor comes from demand for the good it produces | 引致需求(派生需求) |
| Marginal Product of Labor (MPL) | Extra output from one more worker | 劳动的边际产量 |
| Marginal Revenue Product (MRP) | Extra revenue from one more unit of a factor = MP × MR | 边际收益产品 |
| Value of the Marginal Product (VMP) | MP × P; equals MRP when the output market is perfectly competitive | 边际产品价值 |
| Marginal Resource (Factor) Cost (MRC / MFC) | Extra cost of hiring one more unit of a factor | 边际要素成本 |
| Wage Taker | A firm that can hire as many workers as it wants at the market wage | 工资接受者 |
| Least-Cost Rule | MPL/W = MPK/r: the last dollar spent on each input yields the same extra output | 最低成本法则 |
| Monopsony | A market with a single buyer of a factor (e.g., the only employer in a town) | 买方垄断 |
5.1Introduction to Factor Markets 要素市场入门
一家草莓采摘园要决定的不只是“卖多少草莓”,还有“雇几个采摘工、租几亩地、买几台冷藏车”。前者发生在产品市场,后者发生在要素市场——企业在这里是买方。
Factors and Factor Prices 生产要素与要素价格
Explain how each event affects a delivery platform's demand for riders, and identify the factor price that each event concerns. (a) A cold, rainy week makes millions of people order food delivery instead of eating out. (b) The platform's riders get better route-planning software, so each rider completes more deliveries per hour. (c) A restaurant chain leases a bigger kitchen and pays more each month for it.
MRP and MRC 边际收益产品与边际要素成本
| 产品市场(Unit 3–4) | 要素市场(Unit 5) | |
|---|---|---|
| 企业的角色 | 卖方 | 买方 |
| 多一单位带来的收益 | MR | MRP = MP × MR |
| 多一单位带来的成本 | MC | MRC(MFC) |
| 利润最大化 | MR = MC | MRP = MRC |
| 完全竞争时 | P = MR(价格接受者) | W = MRC(工资接受者) |
A strawberry farm sells strawberries in a perfectly competitive market at $5 per box and hires pickers in a perfectly competitive labor market at a wage of $45 per day. The table shows the total number of boxes picked per day.
| Number of pickers | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|---|
| Total boxes per day | 0 | 20 | 38 | 53 | 65 | 75 | 83 | 88 |
(a) Calculate the marginal product and the marginal revenue product of the 3rd picker. (b) What is the marginal resource cost of a picker? (c) How many pickers will the farm hire? Explain using marginal analysis. (d) If the wage rose to $75, how many would it hire? (e) Why does the farm's MRP fall as it hires more pickers?
| 工人数 L | 总产量 TP(箱/天) | MPL | P | MRP = MP × P | MRC = 工资 |
|---|---|---|---|---|---|
| 0 | 0 | — | — | — | — |
| 1 | 20 | 20 | $5 | $100 | $45 |
| 2 | 38 | 18 | $5 | $90 | $45 |
| 3 | 53 | 15 | $5 | $75 | $45 |
| 4 | 65 | 12 | $5 | $60 | $45 |
| 5 | 75 | 10 | $5 | $50 | $45 |
| 6 | 83 | 8 | $5 | $40 | $45 |
| 7 | 88 | 5 | $5 | $25 | $45 |
- MRP 是收入的增加(钱),MP 是产量的增加(箱)。表格题常常只给产量,要先算 MP 再乘以价格。
- “第几个工人的 MRP”看的是这一个工人带来的增加,不是平均每人带来多少(平均产量 × 价格不是 MRP)。
- 工人越多 MRP 越低,是因为边际产量递减,不是因为后雇的人更懒。
采摘量和上面的例题一样(MP = 20、18、15、12、10、8、5 箱)。拖动草莓价格和市场工资,看每个工人的 MRP 柱子和工资线,草莓园该雇几个人。
Labor Supply and the Labor Market 劳动供给与劳动市场
劳动的卖方是工人。工资越高,愿意工作的人越多(CED PRD-4.A.2):有人从学校、家里走进劳动市场,有人从别的行业转过来,已经在工作的人也愿意加班。
练习 Practice 5.1 · 要素市场、MRP 与 MRC
以下为历年 AP 真题(带图和表格的题按原题重绘),点选项即时判分并显示解析。
- change in income that occurs when an individual works additional hours
- change in total revenue that occurs when one additional unit of the good is produced
- change in total revenue that occurs when one additional unit of an input is employed
- total revenue divided by the quantity of labor employed
- change in total cost that occurs when one additional unit of an input is employed
- product price times the wage rate
- additional revenue a firm earns when it employs an additional unit of labor
- increase in the average product of labor when the firm employs an additional unit of labor
- increase in the price of labor when the firm employs an additional unit of labor
- marginal revenue plus product price
- the change in total resource cost caused by the production of one more unit of output
- the change in total revenue caused by the addition of one more unit of a resource
- the change in total resource cost caused by the addition of one more unit of a resource
- the total resource cost divided by the number of inputs used
- total resource cost divided by output
- A decrease in the demand for theater tickets will decrease the demand for actresses and actors.
- If the salaries of basketball players increase, the quantity of basketball players demanded will decrease.
- An increase in the income of consumers will increase the demand for opera tickets.
- An increase in the demand for movie tickets will decrease the demand for video rentals.
- A decrease in the price of movie tickets will increase the demand for movie tickets.
- derived demand
- diminishing marginal productivity of labor
- substitution in production
- supply shock
- property rights
- The price of machines used to gather corn increases when the demand for corn increases.
- The price of machines used to gather corn decreases when the demand for corn increases.
- The price of machines used to gather corn increases when the demand for corn decreases.
- The price of machines used to gather corn increases when the price of wheat, a producer substitute for corn, increases.
- The price of machines used to gather corn is unrelated to the demand for corn.
- average variable cost curve
- total revenue curve
- marginal cost curve
- marginal revenue product curve
- average product curve
- work
- wealth
- nominal wages
- productivity
- leisure
- money available to start a business
- stocks and bonds issued by businesses to raise funds
- financial investment of businesses
- currency in circulation and deposits in financial institutions
- tools and machinery used to produce goods and services
| Number of Workers | Total Product |
|---|---|
| 1 | 15 |
| 2 | 20 |
| 3 | 24 |
| 4 | 27 |
| 5 | 29 |
- $24
- $27
- $40
- $240
- $300
| Hours of Labor | Marginal Product |
|---|---|
| 0 | 0 |
| 1 | 10 |
| 2 | 12 |
| 3 | 9 |
| 4 | 7 |
| 5 | 4 |
- $4
- $7
- $14
- $26
- $70
| Number of Workers | Total Output/Hour |
|---|---|
| 1 | 3 |
| 2 | 7 |
| 3 | 12 |
| 4 | 14 |
| 5 | 15 |
- $5
- $12
- $25
- $36
- $60
| Number of Workers | Output |
|---|---|
| 1 | 3 |
| 2 | 9 |
| 3 | 16 |
| 4 | 21 |
| 5 | 23 |
| 6 | 24 |
- $2
- $40
- $100
- $115
- $460
5.2Changes in Factor Demand and Factor Supply 要素需求与供给的变化
劳动市场就是一张供求图:价格是工资,数量是就业量。工资本身变化只是沿着曲线移动;其他因素变化才让曲线整条移动。点按钮看四种移动:
| 变化 | 曲线 | 工资 W | 就业量 L |
|---|---|---|---|
| 劳动需求增加 | D 右移 | ↑ | ↑ |
| 劳动需求减少 | D 左移 | ↓ | ↓ |
| 劳动供给增加 | S 右移 | ↓ | ↑ |
| 劳动供给减少 | S 左移 | ↑ | ↓ |
Shifts in Labor Demand 劳动需求的移动(CED PRD-4.B.1)
- 产品的价格(产品的需求):产品更贵、更好卖 → MRP 上升 → 劳动需求增加(引致需求)。
- 工人的生产率:培训、更好的工具、更多与劳动互补的资本 → MP 上升 → 劳动需求增加。
- 其他投入的价格:替代要素(如自助机器)变便宜 → 企业用机器代替人 → 劳动需求减少;互补要素(如电脑之于程序员)变便宜 → 用得更多,工人也更能干 → 劳动需求增加。
- 雇用这种劳动的企业数量:行业里企业变多 → 市场劳动需求增加。
- “工资上涨导致企业少雇人”是沿着需求曲线移动,不是需求减少。
- 产品市场的变化先影响产品价格,再通过 MRP 影响劳动需求——答题时把这条链写出来:需求 ↑ → P ↑ → MRP ↑ → 劳动需求 ↑。
Shifts in Labor Supply 劳动供给的移动(CED PRD-4.B.2)
For each event, identify the labor market affected, state whether labor demand or labor supply shifts and in which direction, and give the effect on the equilibrium wage and employment.
- Electric cars become very popular. (market for battery engineers)
- Hospitals buy new diagnostic software that lets each radiologist read twice as many scans per hour. (market for radiologists)
- A country lowers the retirement age, and many older drivers leave the workforce. (market for bus drivers)
- Self-driving delivery robots become cheap and replace many couriers. (market for couriers)
- Wages for software testers rise sharply, so many video editors retrain as testers. (market for video editors)
| 移动 | 原因 | W | L | |
|---|---|---|---|---|
| 1 | 需求右移 | 电动车需求增加 → 电池工程师是引致需求,MRP 上升 | ↑ | ↑ |
| 2 | 需求右移 | 软件提高放射科医生的边际产量(与劳动互补的资本) | ↑ | ↑ |
| 3 | 供给左移 | 年龄结构变化,能工作的司机变少 | ↑ | ↓ |
| 4 | 需求左移 | 机器人是快递员的替代要素,变便宜后企业少雇人 | ↓ | ↓ |
| 5 | 供给左移 | 其他职业的工资(其他选择)变高,剪辑师转行 | ↑ | ↓ |
At the same time, (i) sales of electric cars boom and (ii) many universities open new battery-engineering programs, so more graduates enter the field. What happens to the equilibrium wage and the number of battery engineers employed? What extra information would you need to determine the change in the wage?
对每个事件,判断括号里那个劳动市场的劳动需求或劳动供给怎样移动。(得分:0 / )
练习 Practice 5.2 · 劳动需求与供给的移动
以下为历年 AP 真题(带图和表格的题按原题重绘),点选项即时判分并显示解析。
- The demand for labor and the number of workers hired both increase.
- The supply of labor and the number of workers hired both increase.
- The demand for labor and the number of workers hired both decrease.
- The supply of labor and the number of workers hired both decrease.
- There is a movement along the demand for labor curve, and firms hire more workers.
- Firms will move down along the demand curve for labor and hire more workers.
- The supply curve for labor will shift to the right.
- The demand curve for labor will shift to the right.
- The supply curve for labor will shift to the left.
- The demand curve for labor will shift to the left.
- The supply of labor
- The minimum wage
- The cost of medical benefits provided to the labor hired by firms
- Labor union dues
- The demand for the good that labor produces
- The supply curve of health-care workers will shift to the right.
- The supply curve of health-care workers will shift to the left
- The demand curve for health-care workers will shift to the right.
- The demand curve for health-care workers will shift to the left.
- Neither the demand curve nor the supply curve of health-care workers will shift.
- Other firms have opened more stores selling frozen treats.
- The government imposed a per-unit tax on consumers of frozen treats.
- The government removed a quota on imported frozen treats.
- There was an increase in demand for frozen treats.
- There was a decrease in the price of frozen treats.
- decrease the price of hats
- decrease its demand for labor
- decrease the quantity of labor demanded
- increase its demand for capital
- increase the rental price of capital
- The supply of aluminum increases.
- The demand for cars increases.
- The supply of gasoline, a complement to cars, decreases.
- The wages of workers in the car industry increase.
- The amount of time that people keep their cars increases.
- Jobs in the United States steel industry will become less attractive, so wages will have to increase in this market to attract more workers to the United States steel industry.
- Domestic steel prices will fall, leading to an increase in sales of domestically produced steel, which increases demand and employment of steelworkers.
- The supply of steelworkers will increase, lowering the steelworker wage in the United States.
- The supply of steelworkers will decrease, increasing the steelworker wage in the United States.
- The demand for United States steelworkers will decline, putting downward pressure on steelworker wages.
- an increase in demand for health care workers
- an increase in demand for medicine
- an increase in the quantity of health care workers supplied
- an increase in the wages of health care workers
- a decrease in the prices of medicine
- The demand for health-care workers will increase.
- The marginal factor cost in the health-care industry will decrease.
- The number of health-care workers will decrease.
- The quality of health-care services will increase.
- The wages of health-care workers will decrease.
- An increase in the number of nurses graduating from nursing schools
- An increase in nursing schools’ tuition
- An increase in the number of hospitals that employ nurses
- A decrease in the marginal productivity of nurses
- An improvement in the health of older people
- A decrease in the amount of physical capital per computer programmer
- An improvement in the education of computer programmers
- An increase in the social prestige associated with being a computer programmer
- A decrease in the value that computer programmers place on leisure
- A minimum wage set below the equilibrium wage in the market for computer programmers
- A decrease in the wage rate
- A decrease in labor productivity
- An increase in the price of a substitute input
- An increase in the price of the firm’s product
- An increase in demand for the firm’s product
- The marginal product of the last barber hired will not change.
- The marginal product of the last barber hired will decrease.
- The marginal revenue product curve will shift to the right.
- The marginal revenue product curve will shift to the left.
- There will be a movement upward along the marginal revenue curve.
- The firm laid off some workers.
- The market supply for the firm's product decreased.
- The market demand for the firm's product decreased.
- A technological advance increased the productivity of the firm's workforce.
- The firm negotiated new contracts with workers, lowering wages.
- A decrease in the price of the factor of production
- A decrease in the price of a substitute factor of production
- An increase in the price of the product produced by the factor
- An increase in the marginal product of the factor
- An improvement in technology used by the factor of production
- A decrease in the supply of labor
- A decrease in the price of labor
- A decrease in the price of capital, a substitute for labor
- An increase in the minimum wage
- An increase in the productivity of labor
- Demand for Chicken: Increase;Equilibrium Price of Frozen Meals: Increase
- Demand for Chicken: Increase;Equilibrium Price of Frozen Meals: Decrease
- Demand for Chicken: Increase;Equilibrium Price of Frozen Meals: No change
- Demand for Chicken: Decrease;Equilibrium Price of Frozen Meals: Increase
- Demand for Chicken: Decrease;Equilibrium Price of Frozen Meals: Decrease
- Wage Rate of Rural Workers: Increase;Total Hours Worked by Rural Workers: Decrease
- Wage Rate of Rural Workers: No change;Total Hours Worked by Rural Workers: Increase
- Wage Rate of Rural Workers: No change;Total Hours Worked by Rural Workers: Decrease
- Wage Rate of Rural Workers: Decrease;Total Hours Worked by Rural Workers: Decrease
- Wage Rate of Rural Workers: Decrease;Total Hours Worked by Rural Workers: No change
- Number of Unskilled Workers Hired: Increase;Wage Rate: Increase
- Number of Unskilled Workers Hired: Increase;Wage Rate: Decrease
- Number of Unskilled Workers Hired: Increase;Wage Rate: Not change
- Number of Unskilled Workers Hired: Decrease;Wage Rate: Increase
- Number of Unskilled Workers Hired: Decrease;Wage Rate: Decrease
- Wage Rate: Increase;Employment: Increase
- Wage Rate: Increase;Employment: Decrease
- Wage Rate: Decrease;Employment: Increase
- Wage Rate: Decrease;Employment: Decrease
- Wage Rate: Decrease;Employment: No change
- The supply curve will shift to the right and the wage rate will decrease.
- The supply curve will shift to the left and the wage rate will increase.
- The demand curve will shift to the right and the wage rate will increase.
- The demand curve will shift to the left and the wage rate will decrease.
- There will be a movement up along the demand curve and the wage rate will increase.
- Supply Curve: Shift right;Demand Curve: No shift
- Supply Curve: Shift left;Demand Curve: No shift
- Supply Curve: Shift left;Demand Curve: Shift left
- Supply Curve: Shift left;Demand Curve: Shift right
- Supply Curve: No shift;Demand Curve: Shift left
- A decrease in immigration restrictions
- A decrease in the cost of child care
- An increase in the number of remote-working jobs
- An increase in preference for leisure
- An increase in wages
- An increase in the number of retired medical assistants
- A decrease in the number of hours worked by medical assistants
- A decrease in the expected future wages paid to medical assistants
- A decrease in the requirements for medical assistant certification
- A decrease in the number of students enrolled in medical assistant programs
- The imposition of an effective minimum wage will result in unemployment.
- An increase in the marginal product of nurses will increase the demand for nurses and increase wages.
- An increase in the supply of nurses will create unemployment and leave wages unchanged.
- An increase in the demand for health care will increase the demand for nurses and increase wages.
- Revoking work permits for foreign nurses will increase wages of domestic nurses.
- An increase in the demand for unskilled workers relative to skilled workers
- An increase in the supply of skilled workers relative to unskilled workers
- A decrease in the demand for unskilled workers relative to skilled workers
- A decrease in both the demand for and the supply of skilled workers
- An increase in both the demand for and supply of unskilled workers
- There would be no change in wages because workers in group X do not have the skills to produce smartphones.
- There would be no change in wages because the supply of and demand for workers producing computers would both shift to the left.
- Wages would decrease because the supply of workers producing computers would increase, with more workers from group Y seeking jobs with firms producing computers.
- Wages would decrease because the supply of workers producing computers would decrease, with more workers from group X seeking training to qualify for jobs with firms producing smartphones.
- Wages would increase because workers in group X have specialized skills.
5.3Profit-Maximizing Behavior in Perfectly Competitive Factor Markets 完全竞争要素市场
Hire Until MRP = Wage 雇到 MRP 等于工资
- 雇这种劳动的企业很多,工人也很多、技能相同;任何一家企业都影响不了工资。
- 工资由市场的劳动供求决定,每家企业是工资接受者(wage taker):它面对的劳动供给是一条水平线,多雇一个人的成本就是工资,MRC = W。
- 企业只要 MRP > W 就继续雇,一直雇到 MRP = W(= MRC)。
- 企业在劳动市场是工资接受者,不代表它在产品市场也是价格接受者:一家垄断企业也可能在完全竞争的劳动市场里招人。
劳动市场:市场定工资 → 企业面对水平的 S = MRC = W → 雇到 MRP = MRC。
Side-by-Side Graphs 市场与企业并排图
FRQ 最常见的画法:左边画整个劳动市场(向上倾斜的 S、向下倾斜的 D),右边画一家企业(水平的 W = MRC、向下倾斜的 MRP = D),两张图的工资对齐。点按钮看劳动供给减少时两张图怎么变:
The strawberry farm from 5.1 (MRP of pickers 1–7: $100, $90, $75, $60, $50, $40, $25) hires in a perfectly competitive labor market. A new factory opens nearby and many pickers leave to work there. (a) Draw side-by-side graphs of the labor market for pickers and the farm, and show the effect. (b) The market wage rises from $45 to $55. How many pickers does the farm hire now? (c) What happens to the farm's daily wage bill? (d) Did the farm's demand for labor change?
- 企业图里的劳动供给是水平线(工资接受者),市场图里的才向上倾斜。
- 市场工资变化 → 企业的 MRC 线移动,企业沿着 MRP 曲线调整;企业的 MRP 曲线只在产品价格或生产率变化时移动。
- MRP 是企业的劳动需求,不是供给。
练习 Practice 5.3(一)· 雇到 MRP = 工资
以下为历年 AP 真题(带图和表格的题按原题重绘),点选项即时判分并显示解析。
- marginal physical product equals marginal revenue product
- marginal revenue equals marginal factor cost
- marginal revenue product equals marginal revenue
- marginal revenue product equals marginal factor cost
- marginal physical product equals marginal factor cost
- average variable cost
- average revenue
- marginal revenue
- (marginal cost) × (marginal product of labor)
- (marginal revenue) × (marginal product of labor)
- labor until its wage rate equals its average revenue product
- labor until its wage rate equals its marginal revenue product
- labor until its wage rate equals the interest rate
- capital until the interest rate equals the wage rate
- capital until the interest rate exceeds the wage rate
- marginal product of the input is maximized
- marginal cost of employing the input is maximized
- value of the marginal product of the input exceeds the price of the input
- revenue associated with the employment of the last unit of the input is maximized
- price of the product is greater than the marginal cost of the input
- The total product of labor exceeds the total real wage payments to workers.
- The average product of labor exceeds the real wage paid to workers.
- The marginal revenue product of labor is below the wage paid to workers.
- The marginal revenue product of labor is above the wage paid to workers.
- The marginal revenue product of labor equals the wage paid to workers.
- marginal revenue product of labor is greater than its marginal factor cost
- marginal revenue product of labor is less than its marginal factor cost
- marginal revenue product of labor is equal to its marginal factor cost
- total revenue is greater than the total cost
- total revenue is equal to the total cost
- The firm will not earn any economic profits.
- Workers will look for employment elsewhere.
- The wage will be less than the marginal product.
- The firm will not maximize profits.
- The contribution of the last worker hired to the firm’s profit will be zero.
- marginal factor cost of labor is equal to the marginal revenue product of labor
- marginal factor cost of labor is equal to the price of the good produced using labor
- marginal product of labor is equal to the marginal revenue product of labor
- marginal product of labor is equal to the marginal factor cost of labor
- marginal product of labor is equal to the price of labor
- marginal product of labor
- marginal revenue product of capital
- demand for labor
- price of the good that labor is producing
- marginal factor cost
- marginal product of labor
- price of labor multiplied by the marginal product of labor
- price of labor multiplied by the price of the output
- price of the output divided by the price of labor
- price of the output multiplied by the marginal product of labor
- Demand for XYZ’s Corn: Horizontal;XYZ’s Labor Demand: Horizontal
- Demand for XYZ’s Corn: Horizontal;XYZ’s Labor Demand: Downward sloping
- Demand for XYZ’s Corn: Horizontal;XYZ’s Labor Demand: Vertical
- Demand for XYZ’s Corn: Downward sloping;XYZ’s Labor Demand: Downward sloping
- Demand for XYZ’s Corn: Downward sloping;XYZ’s Labor Demand: Horizontal
- Firm’s Demand Curve for Labor: Downward sloping;Market Demand Curve for Labor: Downward sloping
- Firm’s Demand Curve for Labor: Downward sloping;Market Demand Curve for Labor: Horizontal
- Firm’s Demand Curve for Labor: Horizontal;Market Demand Curve for Labor: Downward sloping
- Firm’s Demand Curve for Labor: Horizontal;Market Demand Curve for Labor: Horizontal
- Firm’s Demand Curve for Labor: Horizontal;Market Demand Curve for Labor: Upward sloping
- years of schooling
- occupations
- marginal products
- marginal revenue products
- tastes for luxury goods
| Worker | Marginal Product |
|---|---|
| 1 | 50 |
| 2 | 30 |
| 3 | 20 |
- Each worker will receive a wage based on the marginal product of the last worker hired.
- Each worker will receive a wage based on the marginal product of the first worker hired.
- Each worker will receive a wage based on the average of the marginal products of the workers.
- Worker 1 will receive the highest wage.
- Worker 3 will receive the highest wage.
- decrease by $5
- decrease by $75
- increase by $75
- increase by $15
- remain unchanged
- hire more workers if each worker can produce 3 units per hour
- hire another worker if the output per hour of the additional worker exceeds 4 units
- hire fewer workers, since the hourly wage exceeds the cost of producing one unit of output
- not hire any workers, since the cost of labor is greater than the price of the output
- continue to operate in the short run but not in the long run
- Decrease wages
- Increase wages
- Employ more workers
- Employ fewer workers
- Increase the product’s price
| Number of Workers | Total Output of Coal |
|---|---|
| 0 | 0 |
| 1 | 25 |
| 2 | 44 |
| 3 | 60 |
| 4 | 70 |
| 5 | 75 |
- 5
- 4
- 3
- 2
- 0
| Number of Workers | Parts per Week |
|---|---|
| 0 | 0 |
| 1 | 100 |
| 2 | 190 |
| 3 | 270 |
| 4 | 340 |
| 5 | 400 |
| 6 | 450 |
| 7 | 480 |
- 0 workers
- 1 worker
- 3 workers
- 5 workers
- 7 workers
| Quantity of Labor | Marginal Product | Marginal Revenue Product |
|---|---|---|
| 0 | --- | --- |
| 1 | 20 | $40 |
| 2 | 14 | 28 |
| 3 | 12 | 24 |
| 4 | 8 | 16 |
| 5 | 6 | 12 |
| 6 | 4 | 8 |
- 2
- 3
- 4
- 5
- 6
| Number of Workers | Quantity of T-Shirts |
|---|---|
| 0 | 0 |
| 1 | 24 |
| 2 | 44 |
| 3 | 60 |
| 4 | 72 |
| 5 | 80 |
- 1
- 2
- 3
- 4
- 5
| Number of Workers | Total Output/Hour |
|---|---|
| 1 | 3 |
| 2 | 7 |
| 3 | 12 |
| 4 | 14 |
| 5 | 15 |
- 1
- 2
- 3
- 4
- 5
- 3 workers
- 4 workers
- 5 workers
- 6 workers
- 7 workers
- It should hire 15 workers.
- It should hire between 15 and 40 workers.
- It should hire 40 workers.
- It should hire between 40 and 90 workers.
- It should hire 90 workers.
A perfectly competitive firm operates with a fixed amount of capital that costs $1,000 per day. Labor is the only variable input. The firm hires labor in a perfectly competitive labor market at $100 per day per worker. The table below shows the firm’s production function.
| Number of Workers Hired | Quantity of Output (units) |
|---|---|
| 0 | 0 |
| 1 | 10 |
| 2 | 30 |
| 3 | 54 |
| 4 | 75 |
| 5 | 85 |
| 6 | 90 |
- shuts down and the price is $10
- produces 30 units and the price is $4
- produces 30 units and the price is $10
- produces 54 units and the price is $4
- produces 85 units and the price is $10
- The price of land
- The price of Good X
- The marginal product of labor
- The marginal product of machines
- The wage rate
Minimum Wage in a Competitive Labor Market 完全竞争劳动市场的最低工资
练习 Practice 5.3(二)· 竞争劳动市场的最低工资
以下为历年 AP 真题(带图和表格的题按原题重绘),点选项即时判分并显示解析。
- an increase in the supply of workers
- a decrease in the supply of workers
- a decrease in the demand for workers
- more workers being hired
- fewer workers being hired
- The supply of workers will increase.
- The supply of workers will decrease.
- The demand for workers will increase.
- The demand for workers will decrease.
- The quantity of workers supplied will increase.
- Minimum wage workers will experience no change in hourly pay.
- Minimum wage workers will experience a decrease in hourly pay.
- The number of people employed will decrease because people do not want to work for low wages.
- There will be an excess demand for workers.
- There will be an increase in the supply of workers.
- Teenage employment will increase because firms will want to hire more teenagers at W₂ than at W₁.
- Teenage employment will increase because more teenagers will want to work at W₂ than at W₁.
- Teenage employment will decrease because fewer teenagers will want to work at W₂ than at W₁.
- Teenage employment will decrease because firms will want to hire fewer teenagers at W₂ than at W₁.
- Teenage employment will stay the same because the market-clearing wage is lower than W₁ and W₂.
- a derived demand
- decreasing
- relatively elastic
- relatively inelastic
- unit elastic
- relatively inelastic
- relatively elastic
- unit elastic
- greater than the supply
- positively related to the wage rate
- perfectly elastic
- relatively elastic
- unit elastic
- relatively inelastic
- perfectly inelastic
- be used in a pure market economy
- be used in a mixed economy
- eliminate deadweight loss
- increase the number of workers hired
- decrease the supply of labor
- Supply of avocados will decrease.
- Demand for avocados will decrease.
- There will be a surplus of avocados.
- Avocado producers will hire more workers.
- The price of land used to grow avocados will increase.
MRP When the Firm Has Market Power 卖方垄断企业的 MRP
产品市场有市场势力(垄断、垄断竞争、寡头):多卖要降价,MR < P,所以 MRP < VMP,MRP 曲线更低、更陡,企业雇的人更少。
The only custom phone-case shop in a small town is a monopolist in its output market, but it hires workers in a perfectly competitive labor market at $25 per day. To sell more cases, it must lower its price. The table shows output and the price at which that output can be sold.
| Workers | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Cases per day | 10 | 18 | 24 | 28 | 30 |
| Price ($) | 10 | 9 | 8 | 7 | 6 |
(a) Calculate the MRP of the 2nd worker. (b) How many workers will the shop hire? (c) Calculate MP × P for the 4th worker, and explain why the shop does not use it as the 4th worker's MRP. (d) Is the shop a wage taker?
| 工人 | 产量 Q | MP | 能卖的价格 P | TR | MRP = ΔTR | VMP = MP × P |
|---|---|---|---|---|---|---|
| 1 | 10 | 10 | $10 | $100 | $100 | $100 |
| 2 | 18 | 8 | $9 | $162 | $62 | $72 |
| 3 | 24 | 6 | $8 | $192 | $30 | $48 |
| 4 | 28 | 4 | $7 | $196 | $4 | $28 |
| 5 | 30 | 2 | $6 | $180 | −$16 | $12 |
Least-Cost Combination 最低成本组合(CED PRD-4.C.3)
如果 MPL/W > MPK/r:花在劳动上更划算 → 多用劳动、少用资本,直到两边相等(多用劳动会让 MPL 下降)。 利润最大:MRPL = W 且 MRPK = r ⇔ MRPL/W = MRPK/r = 1 利润最大的组合一定是最低成本组合;但最低成本组合不一定利润最大(它只保证“这个产量”花钱最少,没说产量是不是最好)。
A bakery hires bakers at a wage of $20 per hour and rents ovens at $10 per hour. The marginal products (loaves per hour) of successive bakers are 10, 8, 6, 4, 2, and of successive ovens are 6, 5, 4, 3, 2. Assume the marginal product of each input does not depend on the amount of the other input, and the bakery sells bread in a perfectly competitive market.
(a) The bakery now uses 2 bakers and 2 ovens. Is it producing its output at the lowest possible cost? If not, which input should it use more of? (b) Find the least-cost combination of inputs for producing 33 loaves per hour. (c) The price of bread is $4. Find the profit-maximizing number of bakers and ovens, and show that the least-cost rule also holds there.
| 第几个 | MPL(面包师) | MPL/W | MPK(烤箱) | MPK/r |
|---|---|---|---|---|
| 1 | 10 | 0.5 | 6 | 0.6 |
| 2 | 8 | 0.4 | 5 | 0.5 |
| 3 | 6 | 0.3 | 4 | 0.4 |
| 4 | 4 | 0.2 | 3 | 0.3 |
| 5 | 2 | 0.1 | 2 | 0.2 |
还是那家面包房:面包师 $20/小时,烤箱 $10/小时,面包 $4 一个;MPL = 10、8、6、4、2,MPK = 6、5、4、3、2。加减面包师和烤箱,看“每一美元的边际产量”、成本和利润。
练习 Practice 5.3(三)· 卖方垄断企业的 MRP 与最低成本组合
以下为历年 AP 真题(带图和表格的题按原题重绘),点选项即时判分并显示解析。
| Output Quantity (units) | Total Revenue ($) |
|---|---|
| 0 | 0 |
| 1 | 11 |
| 2 | 20 |
| 3 | 27 |
| 4 | 32 |
| 5 | 35 |
| 6 | 36 |
| 7 | 35 |
What is the marginal revenue product of labor when the firm produces the third unit of output?
- $3
- $7
- $9
- $20
- $27
| Output Quantity (units) | Total Revenue ($) |
|---|---|
| 0 | 0 |
| 1 | 11 |
| 2 | 20 |
| 3 | 27 |
| 4 | 32 |
| 5 | 35 |
| 6 | 36 |
| 7 | 35 |
How many units of labor should the firm employ to maximize profits?
- 1
- 2
- 4
- 5
- 6
- MPL/PL = MPK/PK
- MPL/PL > MPK/PK
- MPL/PK = MPK/PL
- (MPL)PL = (MPK)PK
- MPL = MPK
- The marginal product per dollar spent on labor is equal to the marginal product per dollar spent on capital.
- The marginal product of labor is equal to the marginal product of capital.
- The total product of labor is equal to the total product of capital.
- The marginal product of labor and capital are both zero.
- All marginal products are equal to all average products.
- price of each input is equal
- marginal product of each input is equal
- (marginal product × price) of each input is equal
- (marginal product ÷ price) of each input is equal
- (marginal product − price) of each input is equal
- the firm is producing that quantity at the lowest cost
- the firm should use more capital and less labor to minimize cost
- the firm should use less capital and more labor to minimize cost
- the firm should use more of both inputs to increase quantity
- the firm should use less of both inputs to increase quantity
- do nothing, because the costs of production are minimized
- increase the use of labor and decrease the use of capital
- increase the use of capital and decrease the use of labor
- increase the use of labor and increase the use of capital
- decrease the use of labor and decrease the use of capital
• Marginal product of labor = 30 units
• Marginal product of capital = 60 units
• Price of labor = $3 per unit
• Price of capital = $15 per unit
Which of the following actions should the firm take in order to achieve the least-cost combination of labor and capital and produce the same level of output?
- Labor: Increase;Capital: Increase
- Labor: Increase;Capital: Decrease
- Labor: Decrease;Capital: Increase
- Labor: Decrease;Capital: Decrease
- Labor: No change;Capital: No change
• The marginal product of capital equals 750 units of output.
• The price of labor is $50 per person.
• The price of capital is $100 per unit.
Given the information above, which of the following is true for a firm buying its labor and capital inputs in a perfectly competitive market?
- The firm is producing its current level of output with the least-cost combination of labor and capital.
- The firm is maximizing profits with its current combination of inputs.
- The firm’s level of output will remain the same if 1 unit of capital is substituted for 2 units of labor.
- The firm’s input costs will decrease if 2 units of labor are substituted for 1 unit of capital.
- The firm can reduce the cost of its current level of output by laying off workers and employing more capital.
- hire more labor and less capital
- hire less labor and more capital
- hire more labor and more capital
- hire less labor and less capital
- make no changes to the mix of inputs
- make no changes
- hire more labor and rent more capital
- hire less labor and rent more capital
- hire more labor and rent less capital
- hire less labor and rent less capital
- $5
- $10
- $15
- $20
- $50
- Employment of Labor: Increase;Employment of Capital: No change
- Employment of Labor: Decrease;Employment of Capital: Increase
- Employment of Labor: Decrease;Employment of Capital: Decrease
- Employment of Labor: Increase;Employment of Capital: Increase
- Employment of Labor: Increase;Employment of Capital: Decrease
- $2.5 per hour
- $5 per hour
- $10 per hour
- $100 per hour
- $200 per hour
| Capital | Labor | |
|---|---|---|
| Marginal Product | 25 units | 5 units |
| Hourly Price | $200 | $50 |
- The amount of capital hired should decrease, and the amount of labor hired should increase.
- The amount of capital hired should decrease, and the amount of labor hired should decrease.
- The amount of capital hired should increase, and the amount of labor hired should decrease.
- The amount of capital hired should increase, and the amount of labor hired should increase.
- There should be no change to the quantity of capital or labor hired.
- Marginal Product of Labor: 25;Price of Capital: $5
- Marginal Product of Labor: 25;Price of Capital: $45
- Marginal Product of Labor: 5;Price of Capital: $15
- Marginal Product of Labor: 5;Price of Capital: $25
- Marginal Product of Labor: 5;Price of Capital: $45
- Price of Labor: $2;Price of Capital: $5
- Price of Labor: $3;Price of Capital: $20
- Price of Labor: $10;Price of Capital: $10
- Price of Labor: $2;Price of Capital: $25
- Price of Labor: $60;Price of Capital: $100
- MP of Labor: Decrease;MP of Capital: Increase
- MP of Labor: Decrease;MP of Capital: No change
- MP of Labor: Increase;MP of Capital: Increase
- MP of Labor: Increase;MP of Capital: Decrease
- MP of Labor: No change;MP of Capital: Increase
5.4Monopsonistic Markets 买方垄断
Why MFC > Wage 为什么边际要素成本高于工资
想多雇一个人,就得把工资提高一点;而且每个人都要按新的工资付钱(不能只给新人高工资)。所以多雇一个人的成本 = 新人的工资 + 给原来所有人涨的钱(CED PRD-4.D.1)。
The only hospital in a remote mountain town is the sole employer of nurses there. To hire more nurses it must raise the wage, and it pays every nurse the same wage. The wage needed to hire 1, 2, 3, 4, 5, 6 nurses is $20, $22, $24, $26, $28, $30 per hour, and the MRP of the 1st through 6th nurse is $60, $50, $40, $30, $22, $14.
(a) Calculate the marginal factor cost of the 4th nurse and explain why it exceeds the wage. (b) How many nurses will the hospital hire, and what wage will it pay? (c) If the market for nurses were perfectly competitive, how many nurses would be hired and at what wage? (d) At the monopsony outcome, compare the MRP of the last nurse with the wage.
| 护士人数 | 需要付的工资 W(供给) | 总工资 TLC | MFC = ΔTLC | MRP |
|---|---|---|---|---|
| 1 | $20 | $20 | $20 | $60 |
| 2 | $22 | $44 | $24 | $50 |
| 3 | $24 | $72 | $28 | $40 |
| 4 | $26 | $104 | $32 | $30 |
| 5 | $28 | $140 | $36 | $22 |
| 6 | $30 | $180 | $40 | $14 |
How Many to Hire, What to Pay 雇多少、付多少
| 完全竞争劳动市场 | 买方垄断 | |
|---|---|---|
| 雇主 | 很多,工资接受者 | 一个,工资制定者 |
| 企业面对的劳动供给 | 水平(W = MRC) | 市场供给,向上倾斜 |
| MRC(MFC)与工资 | MRC = W | MFC > W(MFC 在供给上方) |
| 雇多少 | MRP = W | MRP = MFC |
| 付多少 | 市场工资 | 供给曲线上对应的工资 |
| 例子中的结果 | L = 6,W = $16 | L = 4,W = $12 |
| 最后一个工人的 MRP 与工资 | 相等 | MRP($20)> W($12) |
The graph shows the labor market for a monopsonist. Using the labels, identify (a) the number of workers it hires and the wage it pays, (b) the marginal factor cost of the last worker hired, (c) the employment and wage if the labor market were perfectly competitive, and (d) the minimum wage that would make the monopsonist hire the competitive number of workers.
Minimum Wage in a Monopsony 买方垄断市场的最低工资
在完全竞争劳动市场,有效最低工资让就业减少(5.3)。在买方垄断市场,定得合适的最低工资反而能让就业和工资同时增加:
| 最低工资 | 没有 | $14 | $16 | $18 | $20 | $22 |
|---|---|---|---|---|---|---|
| 就业量 | 4 | 5 | 6 | 5 | 4 | 3 |
| 工资 | $12 | $14 | $16 | $18 | $20 | $22 |
劳动供给 W = 4 + 2L,MFC = 4 + 4L,MRP = 28 − 2L。拖动最低工资(拖到最左边表示没有最低工资),看这家唯一的雇主雇多少人、付多少工资。
练习 Practice 5.4 · 买方垄断
以下为历年 AP 真题(带图和表格的题按原题重绘),点选项即时判分并显示解析。
- single employer of labor
- horizontal labor supply curve
- labor force of identically skilled workers
- backward bending labor supply curve
- demand curve for labor that is perfectly elastic
- A monopsonist controls the product market and pays the same wage rate to all workers.
- A monopsonist needs to offer a higher wage to attract additional workers.
- A monopsonist produces goods that are sold only in imperfectly competitive product markets.
- A monopsonist can charge higher prices for a product it sells without losing all its customers.
- If a monopsonist decreases the wage rate paid to its workers, the firm will lose all its workers to competing employers.
- above the labor supply curve because the product price is found on the demand curve above where marginal cost equals marginal revenue
- above the labor supply curve because to hire more workers the firm must raise the wage for all workers
- below the labor supply curve because the firm is a wage taker
- below the labor supply curve because of diminishing marginal returns to labor
- below the labor supply curve because to sell additional units of output the firm must lower its product price
- The monopsonist must lower its price to sell more output.
- Each worker is paid a different wage, based on individual marginal productivity.
- The monopsonist has market power and pays whatever wage it desires.
- The supply of labor is perfectly elastic.
- The monopsonist must increase the wage for all workers to hire more workers.
- equals marginal factor (resource) cost, resulting in more workers being hired at a lower wage compared with a perfectly competitive labor market
- equals marginal factor (resource) cost, resulting in fewer workers being hired at a lower wage compared with a perfectly competitive labor market
- equals marginal factor (resource) cost, resulting in fewer workers being hired at a higher wage compared with a perfectly competitive labor market
- is less than marginal factor (resource) cost, resulting in more workers being hired at a lower wage compared with a perfectly competitive labor market
- is less than marginal factor (resource) cost, resulting in fewer workers being hired at a lower wage compared with a perfectly competitive labor market
| Number of Workers | Hourly Wage | Marginal Factor Cost | Marginal Revenue Product |
|---|---|---|---|
| 10 | $5.00 | ||
| 11 | 5.10 | $6.10/hr | $8.70/hr |
| 12 | 5.20 | 6.30/hr | 7.60/hr |
| 13 | 5.30 | 6.50/hr | 6.50/hr |
| 14 | 5.40 | 6.70/hr | 5.40/hr |
| 15 | 5.50 | 6.90/hr | 4.30/hr |
- $0.20
- $1.10
- $1.30
- $2.40
- $5.20
- Number of Workers: 15;Wage Rate: $30
- Number of Workers: 20;Wage Rate: $20
- Number of Workers: 20;Wage Rate: $40
- Number of Workers: 30;Wage Rate: $30
- Number of Workers: 40;Wage Rate: $40
- Number of Workers: 5;Wage Rate: $37.50
- Number of Workers: 10;Wage Rate: 30
- Number of Workers: 10;Wage Rate: 20
- Number of Workers: 14;Wage Rate: 24
- Number of Workers: 14;Wage Rate: 37.50
- Number of Workers: L1;Wage Rate: W1
- Number of Workers: L1;Wage Rate: W2
- Number of Workers: L1;Wage Rate: W3
- Number of Workers: L2;Wage Rate: W2
- Number of Workers: L2;Wage Rate: W4
- W1 and Q1
- W1 and Q3
- W2 and Q2
- W2 and Q4
- W3 and Q3
| Number of Workers | Total Output | Marginal Factor Cost ($) |
|---|---|---|
| 1 | 16 | 35 |
| 2 | 35 | 65 |
| 3 | 51 | 95 |
| 4 | 65 | 125 |
| 5 | 77 | 155 |
- 1
- 2
- 3
- 4
- 5
ΣSummary 本单元总结与易错点
5.1 Factor Markets
劳动、土地、资本、企业家才能 → 工资、租金、利息、利润。要素需求是引致需求。MRP = ΔTR/ΔL = MP × MR,MRC = ΔTC/ΔL;雇到 MRP = MRC。MP 递减 → MRP 向下 → 劳动需求向下倾斜;工资越高愿意工作的人越多 → 劳动供给向上倾斜。5.2 Shifts
劳动需求随产品价格(需求)、生产率、其他投入的价格(替代品变便宜 → 减少;互补品变便宜 → 增加)、企业数量移动。劳动供给随移民和人口、教育培训与执照、工作条件、其他职业工资、闲暇偏好、社会观念移动。工资变化本身只是沿曲线移动。5.3 Perfectly Competitive Factor Markets
市场定工资,企业是工资接受者(MRC = W 水平线),雇到 MRP = W。并排图:市场 S、D → W;企业 W 水平线与 MRP 的交点 → 雇用量。卖方有市场势力时 MRP = MP × MR < VMP。最低成本:MPL/W = MPK/r;利润最大:MRPL = W 且 MRPK = r。有效最低工资 → 就业减少、劳动过剩。5.4 Monopsony
唯一的雇主面对向上倾斜的供给;多雇一人要给所有人涨薪,MFC > W,MFC 在供给上方(斜率是供给的两倍)。雇到 MRP = MFC,工资读供给 → 比竞争市场雇得少、工资低,MRP > W。最低工资在买方垄断工资与竞争工资之间时,就业和工资都上升。Product Markets vs. Factor Markets 产品市场与要素市场对照
| 产品市场(企业是卖方) | 要素市场(企业是买方) | |
|---|---|---|
| 多一单位的收益 | MR | MRP = MP × MR(产品市场完全竞争时 = MP × P = VMP) |
| 多一单位的成本 | MC | MRC(MFC) |
| 利润最大化 | MR = MC | MRP = MRC |
| 完全竞争的企业 | 价格接受者:D = MR = P 水平 | 工资接受者:S = MRC = W 水平 |
| 只有一家企业 | 垄断:MR 在需求下方;产量看 MR = MC,价格读需求 | 买方垄断:MFC 在供给上方;雇用量看 MRP = MFC,工资读供给 |
| 与完全竞争相比 | 产量少、价格高 | 雇用少、工资低 |
| 企业的需求曲线来自 | 消费者 | MRP(引致需求) |
- MRP 就是 MP ✗ → MRP 是钱:MP × MR(完全竞争时 MP × P)。
- 竞争劳动市场里企业面对向上倾斜的劳动供给 ✗ → 企业面对的是工资处的水平线,向上倾斜的是市场供给。
- 工资上涨使劳动需求减少 ✗ → 是劳动需求量减少(沿着需求曲线)。
- 市场工资上涨使企业的 MRP 曲线左移 ✗ → 移动的是企业的 MRC(工资)线,企业沿 MRP 少雇人。
- 垄断卖方企业的 MRP = MP × P ✗ → MRP = MP × MR,比 MP × P 小。
- 替代投入变便宜,劳动需求增加 ✗ → 减少(企业改用替代投入);互补投入变便宜才增加。
- MPL/W > MPK/r 时应多用资本 ✗ → 劳动每一美元更划算,应多用劳动。
- 买方垄断者付的工资等于 MFC ✗ → 从雇用量往下读供给曲线。
- 买方垄断的 MFC 在供给下方 ✗ → 在上方,因为要给所有工人涨薪。
- 最低工资一定减少就业 ✗ → 在买方垄断市场,定在买方垄断工资和竞争工资之间的最低工资会增加就业。
✎Unit 5 Test 单元测验
20 道选择题,全部选自历年 AP 真题(与各节练习不重复,带图和表格的题按原题重绘),建议用时 24 分钟。先全部选完,再点底部“交卷”查看得分和解析。
| Number of Workers Hired | Total Revenue ($) | Quantity Produced |
|---|---|---|
| 0 | 0 | 0 |
| 1 | 50 | 10 |
| 2 | 95 | 19 |
| 3 | 135 | 27 |
| 4 | 170 | 34 |
| 5 | 200 | 40 |
- $35
- $34
- $30
- $7
- $5
- average product curve
- marginal product curve
- marginal revenue curve
- marginal revenue product curve
- value of the average product curve
- Demand For Workers: Decrease;Wage Rate: Increase
- Demand For Workers: Decrease;Wage Rate: Not change
- Demand For Workers: Increase;Wage Rate: Decrease
- Demand For Workers: Increase;Wage Rate: Increase
- Demand For Workers: Not Change;Wage Rate: Increase
- Wages: Decrease;Number of Workers Employed: Decrease
- Wages: Decrease;Number of Workers Employed: Increase
- Wages: Increase;Number of Workers Employed: Decrease
- Wages: Increase;Number of Workers Employed: Increase
- Wages: No change;Number of Workers Employed: No change
- A decrease in the market price of plumbing services
- A decrease in the amount of vacation time taken by plumbers
- A decrease in the productivity of plumbers
- An increase in the fees for plumber licenses required to practice plumbing
- An increase in the quality of working conditions for plumbers
- the price of labor increases
- the marginal product of labor decreases
- the price of capital increases
- the marginal product of capital increases
- the product’s demand decreases
- Accountants have less human capital than school teachers.
- Accountants have lower opportunity cost than school teachers.
- Accounting firms provide a more pleasant work environment than schools provide.
- The supply of accountants is low relative to the supply of teachers.
- Fewer teaching majors graduate from college each year than accounting majors.
| Number of Workers | Output |
|---|---|
| 1 | 3 |
| 2 | 9 |
| 3 | 16 |
| 4 | 21 |
| 5 | 23 |
| 6 | 24 |
- 1
- 2
- 4
- 5
- 6
- Equilibrium Market Wage Rate: Increase;Employment by Firm X: Increase
- Equilibrium Market Wage Rate: No change;Employment by Firm X: No change
- Equilibrium Market Wage Rate: No change;Employment by Firm X: Decrease
- Equilibrium Market Wage Rate: Decrease;Employment by Firm X: Decrease
- Equilibrium Market Wage Rate: Decrease;Employment by Firm X: No change
- the marginal product of the last worker hired is 2 waffles per hour
- the marginal revenue product of the last worker hired is $200
- the marginal factor (resource) cost of the last worker hired is $200
- the total product of all workers hired is 200 waffles per hour
- the total revenue from all waffles sold is $200
- is $2
- is $20
- increases as more output is produced
- increases first and then decreases as more output is produced
- decreases first and then increases as more output is produced
- Employment: Decrease;Total Wage Payments: Increase
- Employment: Decrease;Total Wage Payments: Decrease
- Employment: Decrease;Total Wage Payments: Indeterminate
- Employment: Increase;Total Wage Payments: Increase
- Employment: Increase;Total Wage Payments: Indeterminate
- $5.00
- $8.33
- $12.00
- $20.00
- $40.00
- The firm is currently maximizing its profit.
- The firm can produce more than 1,000 units without increasing the total cost if it uses more labor and less capital.
- The firm can produce more than 1,000 units without increasing the total cost if it uses more capital and less labor.
- The firm can reduce the cost of producing 1,000 units by using less capital and employing the same amount of labor.
- The firm can reduce the cost of producing 1,000 units by employing less labor and using the same amount of capital.
- $2
- $4
- $5
- $8
- $10
- It faces a labor supply curve that is horizontal at the competitive market equilibrium wage.
- Its marginal factor (resource) cost is the same as the market supply curve.
- At its optimal level of employment, it pays a wage rate higher than the competitive market wage rate.
- The imposition of a minimum wage results in a larger reduction in employment than is true in a competitive market.
- Its marginal factor (resource) cost curve lies above the labor supply curve because hiring an extra worker means paying more to existing workers.
- Marginal revenue product is less than marginal factor cost.
- Marginal revenue product is greater than marginal factor cost.
- Marginal revenue product is less than the market wage.
- Marginal revenue product is greater than the market wage.
- Marginal revenue product equals the market wage.
- Equilibrium wages and the level of employment will both increase.
- Equilibrium wages will increase, and the level of employment will decrease.
- Equilibrium wages and the level of employment will both decrease.
- Equilibrium wages will decrease, and the level of employment will increase.
- Equilibrium wages will decrease, and the level of employment will remain the same.
- The marginal revenue product curve is upward-sloping.
- The marginal revenue product curve lies above the input demand curve.
- The marginal factor cost curve lies above the input supply curve.
- The marginal factor cost curve lies above the input demand curve.
- The input demand curve lies above the marginal factor cost curve.
- $24
- $32
- $40
- $48
- $64
FRQFree-Response Practice 自由问答
前三道是 AP 真题,评分标准依照 College Board 官方 Scoring Guidelines 整理;第四道是依照 AP 题型原创的并排图题。先在纸上完整作答(包括画图),再展开对照。
| Number of Workers | Number of Parked Cars |
|---|---|
| 0 | 0 |
| 1 | 8 |
| 2 | 20 |
| 3 | 34 |
| 4 | 45 |
| 5 | 54 |
| 6 | 60 |
| 7 | 63 |
Assume that Schmitt Inc. provides car parking services in a perfectly competitive output market and hires labor in a perfectly competitive input market. The market price per car parked is $10, the daily market wage per worker is $100, and fixed costs are $50 per day. The table above shows the number of workers required to park different quantities of cars per day.
(a) Calculate the marginal revenue product of the second worker. Show your work.
(b) How many workers will Schmitt Inc. hire to maximize profit? Relative to this number of hired workers, explain why Schmitt Inc. will not hire one additional worker. Your answer must use marginal analysis and numbers from the table.
(c) Calculate the daily profit for Schmitt Inc. at the profit-maximizing quantity identified in part (b). Show your work.
(d) Suppose new legislation requires each worker in the parking industry to purchase an individual insurance policy at the worker's expense in order to legally park cars.
(i) Will the market wage paid by a typical firm in this industry increase, decrease, or stay the same in the long run?
(ii) For a typical firm in the industry, will the number of workers hired in the short run increase, decrease, or stay the same? Explain.
| 工人 | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| MP(辆) | 8 | 12 | 14 | 11 | 9 | 6 | 3 |
| MRP = MP × $10 | $80 | $120 | $140 | $110 | $90 | $60 | $30 |
| Point | 得分要求与解析 |
|---|---|
| (a) 1 pt | MRP2 = (20 − 8) × $10 = $120(或 TR $200 − $80)。 |
| (b) 1 pt | 雇 4 人;不雇第 5 人,因为第 5 人的 MRP = (54 − 45) × $10 = $90 < 工资 $100。(第 1 人 MRP 只有 $80,低于工资,但第 2–4 人的 MRP 都高于工资,雇前 4 人总共是赚的;判断“雇几人”要看 MRP 开始下降之后,第一个低于工资的是第几人。) |
| (c) 1 pt | 利润 = TR − TC = $10 × 45 − ($50 + 4 × $100) = $450 − $450 = $0。 |
| (d)(i) 1 pt | 市场工资上升:工人要自己买保险,同样的工资下愿意干的人变少,市场劳动供给左移。 |
| (d)(ii) 1 pt | 雇用量减少:市场供给减少 → 工资上升 → 企业的 MFC(MRC)上升,在 MRP = MFC 处雇的人更少。 |
RKB is a profit-maximizing monopoly that produces a new, patented electronic device.
原题 (a)–(c) 是垄断图,已放在 Unit 4(上)讲义的 FRQ 里;这里只做劳动市场的 (d)。
(d) Assume that RKB hires workers in a perfectly competitive labor market.
(i) Draw a correctly labeled graph for the labor market, showing the equilibrium wage and quantity of labor, labeled WE and QE, respectively.
(ii) Suppose immigration increases the number of workers in this labor market. On your graph in part (d)(i), show the new equilibrium wage and quantity of labor, labeled W2 and Q2, respectively.
(iii) RKB uses the optimal combination of capital and labor in its production process. The firm rents capital at $500 per unit, and the last unit of capital rented has a marginal product of 2,500 units. If the marginal product of the last unit of labor hired is 1,000 units, calculate the wage rate. Show your work.
| Point | 得分要求与解析 |
|---|---|
| (d)(i) 1 pt | 正确标注的完全竞争劳动市场:向下倾斜的 D、向上倾斜的 S,标出均衡 WE、QE。 |
| (d)(ii) 1 pt | 劳动供给右移,新均衡工资 W2 更低、就业 Q2 更多。 |
| (d)(iii) 1 pt | MPK/r = MPL/W:2,500 / $500 = 1,000 / W → W = $200(要写出算式)。 |
Quartz Excavations is a profit-maximizing firm and the only employer of miners of quartz in a small town. The graph provided shows the labor market for miners.
A. Identify Quartz Excavations' profit-maximizing number of miners to hire.
B. Will Quartz Excavations pay its profit-maximizing number of miners a wage rate that is equal to $15, greater than $15, or less than $15? Explain using numbers.
C. Suppose the government sets a minimum wage (a price floor on wages) at $25. Calculate the total wage bill for Quartz Excavations at the resulting profit-maximizing number of miners. Show your work.
D. Suppose that instead of a minimum wage, there is now an increase in the demand for quartz.
i. Will the marginal revenue product of miners increase, decrease, or remain the same? Explain.
ii. After the demand for quartz increases, Quartz Excavations hires the new profit-maximizing number of miners. Will the marginal factor cost of the last miner hired be greater than, less than, or equal to the marginal factor cost of the last miner hired before the demand for quartz increased?
| Point | 得分要求与解析 |
|---|---|
| A 1 pt | 4 名矿工(MRP = MFC = $20)。 |
| B 1 pt | Less than $15:买方垄断者的工资由雇用量对应的劳动供给决定,雇 4 人时工资只要 $10。($15 是 S = MRP 的竞争工资。) |
| C 1 pt | 最低工资 $25 时 MFC 在 10 人以内是 $25 的水平线,MRP = $25 在 2 人 → 雇 2 人,工资总额 = $25 × 2 = $50。 |
| D(i) 1 pt | MRP 上升:石英需求增加 → 石英价格和 MR 上升 → MRP = MP × MR 上升。 |
| D(ii) 1 pt | Greater than:MRP 右移后雇的矿工更多,MFC 曲线向上倾斜,最后一名矿工的 MFC 更高。 |
BrightBikes assembles bicycles and sells them in a perfectly competitive market. It hires assemblers in a perfectly competitive labor market.
(a) Draw correctly labeled side-by-side graphs of the labor market for assemblers and of BrightBikes. On your graphs, show the market wage, labeled W1, the market quantity of labor, labeled LM, and the quantity of labor BrightBikes hires, labeled LF.
(b) A technical college opens a new program that trains bicycle assemblers. On your graphs in part (a), show the new market wage, labeled W2, and the new quantity of labor BrightBikes hires, labeled L2.
(c) Instead, suppose the price of bicycles rises. Will BrightBikes' marginal revenue product of labor increase, decrease, or stay the same? Explain.
(d) BrightBikes also rents robotic arms at $300 per day. The wage is $120 per day, the marginal product of the last assembler is 8 bicycles per day, and the marginal product of the last robotic arm is 16 bicycles per day. Is BrightBikes producing its output at the lowest possible cost? If not, should it use more assemblers or more robotic arms? Explain using numbers.
(e) Suppose instead that BrightBikes becomes the only employer of bicycle assemblers in its town. Will the marginal factor cost of the last assembler hired be greater than, less than, or equal to the wage? Explain.
| Point | 评分要点与解析(原创题,按 AP 评分方式整理) |
|---|---|
| (a) 1 pt | 市场图:向下倾斜的 D、向上倾斜的 S,交点标 W1、LM。 |
| (a) 1 pt | 企业图:在 W1 处画水平的劳动供给(= MRC),向下倾斜的 MRP(= D),两者交点标 LF;两图的工资高度对齐。 |
| (b) 1 pt | 市场供给右移,W2 < W1;企业的水平工资线下移到 W2,L2 > LF(MRP 曲线不动)。 |
| (c) 1 pt | 增加:MRP = MP × P,自行车价格上升,每个工人带来的收入增加。 |
| (d) 1 pt | 不是最低成本:MPL/W = 8/120 ≈ 0.067 > MPK/r = 16/300 ≈ 0.053,装配工每一美元产出更多 → 多用装配工、少用机械臂。 |
| (e) 1 pt | Greater than:唯一的雇主面对向上倾斜的劳动供给,多雇一人必须提高所有装配工的工资,MFC = 新人工资 + 给原有工人的涨幅 > 工资。 |
- 表格题:先列 MP,再乘 P(或 MR)得 MRP;“explain using marginal analysis”要写出下一个工人的 MRP 与工资的比较。
- 并排图:市场图用 S、D;企业图用水平的 W = MRC 和向下倾斜的 MRP;工资高度对齐。
- 买方垄断图:MFC 在供给上方;雇用量看 MRP = MFC,工资读供给。
- MPL/W = MPK/r 的计算题一定要写出等式再代数字。
下一单元:→ 打开 Unit 6 Market Failure and the Role of Government(市场失灵与政府的作用——外部性、公共物品、政府干预,以及收入不平等)。
JL · AP Microeconomics · Unit 5 Factor Markets · 题目标签:真题 历年 AP 考试原题(含 College Board 练习卷、国际卷),答案均对照官方答案键并重新验算(2024 年题目的答案为自行验算) · 原创 依照 AP 题型原创