Profit Maximizing Factor Markets

FOUNDATION FOR ECONOMIC EDUCATION

Prepare for the Economics Olympiad Competition

Profit-maximizing factor markets describe how firms hire labor and other inputs up to the point where the marginal revenue product of each factor equals its price, ensuring the lowest-cost combination of resources.

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Course curriculum

1. Profit Maximizing Behavior in Perfectly Competitive Factor Markets
2. Cost-Minimizing Rule
3. Cost-Minimizing: Maintain
4. Cost-Minimizing: Adjust
5. Summary
6. Profit Maximizing Factor Markets Quiz
7. The War on Self-Checkouts Is Economically Backward

Additional Factor Markets and Distribution Modules

Factor Markets
Course

Compete in the 2026 Economics Olympiad Americas Challenge

The Economics Olympiad is the world’s largest and most prestigious international competition that ignites the minds of young individuals and empowers them with essential economic knowledge and skills. Through a multi-stage structure, participants embark on a transformative journey, competing at the school, national, and international levels with the finals held in the birthplace of the Olympic Games—Ancient Olympia, Greece.

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Economics Olympiad Prep Modules

Use these modules to prepare for success in the Economics Olympiad competition.

FOUNDATION FOR ECONOMIC EDUCATION

Prepare for the Economics Olympiad Competition

Content

Factor Markets

Compete in the 2026 Economics Olympiad Americas Challenge

Unlock the power of knowledge, experience excellence, and connect with like-minded students

Economics Olympiad Prep Modules