So the whole degree thing has to do more with the elasticity of the demand than anything else? OK...Another thing, the whole factor market...anything on the AP test is going to be in regards to the supply and demand of labor, or will there be other things besides that on there?
3:37 PM, May 06, 2007
Yes, elasticity of D is a really good way of looking at the degrees of price discrimination.
The info we get on what they will actually put on the AP national exam is a wonderful thing (not) - here is all the info I get from them on what will be on in regards to factor markets:
1. Derived factor demand
2. Marginal revenue product
3. Labor market and firms’ hiring of labor
4. Market distribution of income
Helpful, isn't it? That's all I got. So - S & D of labor (in a large sense, not just a basic sense), how to determine how many people to hire, and inequalities of income.
All of the layouts that I get from the College Board are in your syllabus - if you go towards the back, where I list what chapters to study for each unit, there is a list at the end that says "topics" - that's what I get directly from the College Board on what to cover in the course. Yeah, it's vague. That's what stinks. :)