{"id":34652,"date":"2016-04-23T03:00:41","date_gmt":"2016-04-23T07:00:41","guid":{"rendered":"http:\/\/quotulatiousness.ca\/blog\/?p=34652"},"modified":"2017-07-14T10:12:30","modified_gmt":"2017-07-14T14:12:30","slug":"the-marginal-product-of-labor","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2016\/04\/23\/the-marginal-product-of-labor\/","title":{"rendered":"The Marginal Product of Labor"},"content":{"rendered":"<p align=\"center\"><iframe loading=\"lazy\" width=\"853\" height=\"480\" src=\"https:\/\/www.youtube.com\/embed\/G7ai5LAehqg\" frameborder=\"0\" allowfullscreen><\/iframe><\/p>\n<blockquote><p><strong>Published on 7 Apr 2015<\/strong><\/p>\n<p>In this video on the marginal product of labor, we discuss some commons questions such as: How are wages determined? Why do most Americans earn so much by global standards? What exactly is meant by \u2018human capital\u2019? Do labor unions help workers, and if so, by how much? How does discrimination affect labor markets? How is the demand for labor different than the demand for a good? We\u2019ll discuss how to derive the demand for labor based on the marginal product of labor, and use real-world examples \u2014 such as the demand for janitors in a fast food restaurant \u2014 to illustrate this calculation. We\u2019ll also cover an individual\u2019s labor supply curve vs. market supply of labor. <\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Published on 7 Apr 2015 In this video on the marginal product of labor, we discuss some commons questions such as: How are wages determined? Why do most Americans earn so much by global standards? What exactly is meant by \u2018human capital\u2019? Do labor unions help workers, and if so, by how much? How does [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":35193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25],"tags":[95,1026,1143,392],"class_list":["post-34652","post","type-post","status-publish","format-standard","hentry","category-economics","tag-jobs","tag-microeconomics","tag-principlesofeconomics","tag-unions"],"jetpack_featured_media_url":"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2016\/06\/favicon.png","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-90U","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/34652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=34652"}],"version-history":[{"count":1,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/34652\/revisions"}],"predecessor-version":[{"id":34653,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/34652\/revisions\/34653"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media\/35193"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=34652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=34652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=34652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}