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...Market for factors of production eco global macroeconomics goals specic understand how quantities are determined prices what determines factor income focus on labor and capital learning objectives lo predict savings investment decisions policies inu ence stock long run possibilities relevant reading markets hubbard o brien pages available dl saving modules basics from is earned owning selling pro duction wages working in interest by renting rent land price or supply demand marginals measuring revenue total product level the nal good marginal mp additional attained when hiring one unit amount mr producing mrp a diminishing law k returns decreases as you hire units shape curve depending type output increases may decrease stay same but it does not increase example suppose company s schedule given below also has constant its at per item quantity computethetotalrevenue marginalrevenue marginalproduct andmarginal each choosing if wage would be interested more less did this happen to...