The demand for inputs is a derived demand because
A. it is derived from production.
B. it depends on the demand for outputs.
C. it does not come from competitive markets.
D. it is derived from nature.
Answer: B
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Firms in monopolistic competition maximize their profit by setting their price equal to their marginal revenue
Indicate whether the statement is true or false
When the fox is guarding the henhouse, that is an example of the
A) share-the-gains, share-the-pains theory. B) regulatory hypothesis. C) capture hypothesis. D) creative theory.
If Kahneman and Tversky are correct, I should
A. be indifferent which type of investment I make. B. buy individual stocks rather than put my money into a mutual fund. C. have opposite strategies depending on whether my investments will rise or fall. D. put my money in a mutual fund instead of individual stocks.
There has been an increase in the demand for chicken. This change can be shown graphically as a:
A. shift in the demand curve to the left. B. movement along the demand curve to the left. C. shift in the demand curve to the right. D. movement along the demand curve to the right.