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Lecture Managerial economics: Chapter 17 - Dr. Hasnain Naqvi

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Chapter 17 - Labour and capital market. After studying this chapter, you will able to Explain how firms choose the quantities of labor, capital, and natural resources to employ; explain how people choose the quantities of labor, capital, and natural resources to supply; explain how wages, interest, and natural resource prices are determined in competitive resource markets; explain the concept of economic rent and distinguish between economic rent and opportunity cost.

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