Microeconomics – resources markets, labor, land and capital

Discussion questions – no sources needs but NO PLAGIARISM
1 Who are the buyers and sellers of resources? Give examples
2- Explain the concept of derived demand.? Give examples

3. You work for Walmart at an upper management position. Based on what we are learning about Resource Markets where labor is one important resource, would you work 10 hours per day for $8/hour? $12/hour? $25/hour? Does your answer show a backward-bending supply curve of your labor? Justify.

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