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Stocks B / Berkshire Hathaway


Subject:  Wal-Mart, Lawyers, and the Price of Beans Date:  1/5/2006  11:43 AM
Author:  mhirschey Number:  113408 of 220748

Labor and other input markets are governed by the forces of supply and demand. As is true for all goods and services, demand curves for productive inputs are downward sloping. The demand for all inputs is derived from their ability to produce output, revenues, and profits. Recall that the economic productivity of an input is determined by its