| Steven M. Reff Economics Lecturer University of Arizona (2007 - 2016) The 2015 University of Arizona Five-Star Faculty Award Steven Reff's Resume |
Unit 4: Factor Markets
• Topic 5.1 Introduction to Factor Markets
• Topic 5.2 Change in Factor Demand and Factor Supply
• Topic 5.3 Profit-Maximizing Behavior in Perfectly Competitive Factor Market
• Topic 5.4 Monopsonistic Market
• Topic 5.1 Introduction to Factor Markets
• Topic 5.2 Change in Factor Demand and Factor Supply
• Topic 5.3 Profit-Maximizing Behavior in Perfectly Competitive Factor Market
• Topic 5.4 Monopsonistic Market
| (10% – 13% of the exam) |
| 6 - 8 class periods |
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
| Unit 5 Factor Markets |
| Week 12 |
Below are lessons for Unit 5: Topics 5.3 - 5.4 aligned to the AP® Microeconomics CED.
You will have textbook readings, short videos with 3 multiple choice questions, workbook
assignments, multiple choice questions, "free" response questions and much more.
These resources can be displayed on the instructor's projection system inside the classroom,
or the instructor can copy the links and give to the students as homework.
Link to the AP® Microeconomics CED (Course and Exam Description) to see in-depth
coverage on each of the topics listed below for Unit 5: Factor Markets
You will have textbook readings, short videos with 3 multiple choice questions, workbook
assignments, multiple choice questions, "free" response questions and much more.
These resources can be displayed on the instructor's projection system inside the classroom,
or the instructor can copy the links and give to the students as homework.
Link to the AP® Microeconomics CED (Course and Exam Description) to see in-depth
coverage on each of the topics listed below for Unit 5: Factor Markets
| Principles of Microeconomics |
| Remember, you still have all of the resources and assessments that The College Board® provides for you and your students. |
5.3 Profit-Maximizing Behavior in Perfectly Competitive Factor Market
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
| Day 1: Week 12 |
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
| Day 2: Week 11 |
Topic 5.4 Monopsonistic Market
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
| Day 3: Week 12 |
| FRQ Long Question -- Monopsony Labor Market |
REDO
| eWorkbook Activities Interactive: |
5.3 Profit-Maximizing Behavior in Perfectly Competitive Factor Market
| Multiple Choice Questions -- Factor Market |
| TEST YOUR KNOWLEDGE: Topics 5.1 - 5.3 |
| eVideos -- Short Videos: |
| eVideos -- Short Videos: |
In the video below, there is a mistake in the video. When you hear and
see there is a "shortage" in the labor market, it should be there is a "surplus."
see there is a "shortage" in the labor market, it should be there is a "surplus."
| eTextbook Reading: |
| eVideos -- Short Video: |
| eWorkbook Activities Interactive: |
| eWorkbook Activities Interactive: |
| FRQs Short Questions: |
| FRQs Questions -- Factor Market |
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Topic 5.4 Monopsonistic Market
| Day 4: Week 12 |
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
| Classroom Review Activity: |
Topic 5.4 Monopsonistic Market
| Day 5: Week 12 |
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
| FRQ Short Questions -- Perfectly Competitive Labor Market and Individual Firms |
NOTE: There has only been ONE FRQ regarding a Monopsony
NOTE: Perfectly Competitive Labor Market short FRQs in order of difficulty (2000 - 2006)
NOTE: Perfectly Competitive Labor Market short FRQs in order of difficulty (2008 - 2017)
5.3 Profit-Maximizing Behavior in Perfectly Competitive Factor Market
| FRQ LONG Questions -- Perfectly Competitive Labor Market and Individual Firms |
| As you can see by the number of FRQs listed below that the Perfectly Competitive Factor Marketis an very important Topic inside Unit 5: Factor Markets. |