Faktor produksi adalah input yang digunakan
Permintaan untuk faktor produksi adalah
penurunan kurva permintaan.
Sebuah permintaan perusahaan untuk faktor
Pasar tenaga kerja, seperti pasar lain dalam
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Quantity of Apples
0
Price of Apples
Demand Supply
Demand Supply
Quantity of Apple Pickers
0
Wage of Apple Pickers
(a) The Market for Apples (b) The Market for Apple Pickers
P
Q L
Fungsi produksi menggambarkan hubungan
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Production function
Quantity of Apple Pickers 0
Quantity of Apples
Marginal Product Of Labor (MPL) adalah
penambahan output yang dihasil dari penambahan satu unit tenaga kerja
◦ MPL = Q/L
Ketika jumlah pekerja bertambah, produk
marjinal tenaga kerja menurun.
Jika pekerja semakin banyak, maka setiap
pekerja memberikan tambahan kontribusi untuk produksi kurang dari yang
sebelumnya.
Fungsi produksi menjadi lebih datar karena
jumlah pekerja meningkat.
Penurunan marginal product mengacu
kepada marginal input yang semakin
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Production function
Quantity of Apple Pickers 0
Quantity of Apples
Nilai marginal produk adalah marginal
produk input dikalikan dengan harga barang
The value of the marginal product (also
known as marginal revenue product) is measured in dollars.
It diminishes as the number of workers rises
To maximize proft, the competitive, proftt
maximizing frm hires workers up to the point where the value of the marginal product of labor equals the wage.
The valuetoftmarginaltproduct curve is the
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0 Quantity of
Apple Pickers 0
Value of the Marginal Product
Value of marginal product (demand curve for labor) Market
wage
When a competitive frm hires labor up
Output Price
Technological Change
The labor supply curve refects how
workers’ decisions about the labort
leisure tradeof respond to changes in opportunity cost.
An upwardtsloping labor supply curve
means that an increase in the wages induces workers to increase the
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Wage (price of labor)
0 Quantity of
Changes in Tastes
Changes in Alternative Opportunities
The wage adjusts to balance the supply and
demand for labor.
The wage equals the value of the marginal
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Wage (price of labor)
0 Quantity of
Labor supply and labor demand
determine the equilibrium wage.
Shifts in the supply or demand curve
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Wage (price of labor)
0 Quantity of
Labor
Supply, S
Demand 2. . . . reduces
the wage . . .
3. . . . and raises employment.
An increase in the supply of labor :
Results in a surplus of labor.
Puts downward pressure on wages.
Makes it proftable for frms to hire more
workers.
Results in diminishing marginal product.
Lowers the value of the marginal product.
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Wage (price of labor)
0 Quantity of
Labor
Supply
Demand, D 2. . . . increases
the wage . . .
3. . . . and increases employment. D W
L W
L
An increase in the demand for labor :
Makes it proftable for frms to hire more
workers.
Puts upward pressure on wages.
Raises the value of the marginal product.
Capital refers to the equipment and
structures used to produce goods and services.
The economy’s capital represents the
accumulation of goods produced in the
Prices of Land and Capital
The purchase price is what a person pays
to own a factor of production indefnitely.
The rental price is what a person pays to
The rental price of land and the rental
price of capital are determined by supply and demand.
The frm increases the quantity hired until
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Quantity of Land
0
Rental Price of Land
Demand Supply
Demand Supply
Quantity of Capital
0
Rental Price of Capital
Q P
(a) The Market for Land (b) The Market for Capital
P
Each factor’s rental price must equal
the value of its marginal product.
They each earn the value of their
Factors of production are used together.
The marginal product of any one factor
A change in the supply of one factor
A change in earnings of any factor can
be found by analyzing the impact of the event on the value of the marginal
