question archive 1)The demand for a productive resource is said to be "derived" because the demand for the factor: A) depends on the demand for the product it is used to make
1)The demand for a productive resource is said to be "derived" because the demand for the factor: A) depends on the demand for the product it is used to make
Subject:EconomicsPrice: Bought3
1)The demand for a productive resource is said to be "derived" because the demand for the factor:
A) depends on the demand for the product it is used to make.
B) depends on the demand for a complementary factor.
C) is derived from the state of the economy.
D) is derived from government policy.
2)A firm's demand curve for labor:
A) is its marginal product curve.
B) will shift to the left if the price of the product the labor is producing should fall.
C) is perfectly elastic if the firm is selling its product in a purely competitive market.
D) reflects a direct (positive) relationship between the number of workers hired and the money wage rate.
