Fifth%20Edition%20Economics

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Fifth EditionEconomics A Contemporary
Introduction William A. McEachern Resource
Markets
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Exhibit 1 Resource Market for Carpenters
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Exhibit 2 Market for Carpenters in Alternative
Uses Home Building and Furniture Making
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Exhibit 3a Opportunity Cost and Economic Rent
(All Resource Returns are Economic Rent)
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Exhibit 3b Opportunity Cost and Economic Rent
(All Resource Returns are Opportunity Costs)
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Exhibit 3c Opportunity Cost and Economic Rent
(Resource Returns are Divided Between Economic
Rent and Opportunity Cost)
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Exhibit 6a Market Equilibrium For a Resource and
the Firms Employment Decision (Market)
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Exhibit 6b Market Equilibrium For a Resource and
the Firms Employment Decision (Firm)
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Exhibit 7 Functional Distribution of Income
Percentage Share of Each Source of National
Income by Decade
Source Irving Kravis, Income Distribution
Functional Shares. International Encyclopedia of
Social Sciences 7 (Free Press, 1968), and
Economic Report of the President, February 1999.