An increase in the demand for a product will shift the demand for labor used to produce the product:
a. downward.
b. leftward.
c. rightward.
d. none of these, the curve will not shift.
c
You might also like to view...
"If production of a good creates an external cost, then, when production is such that the marginal private costs are equal to the marginal private benefits, the market outcome will be inefficient
" Explain whether this assertion is correct or incorrect.
The introduction of computer-based technologies in the telephone industry caused
a. an increase in the supply of telephone services. b. an increase in the demand for telephone services. c. an increase in the price of telephone services. d. a decrease in the number of calls handled daily by telephone companies.
A monopoly
a. can ignore the law of demand b. faces a demand curve for its output that is nowhere price inelastic c. establishes the market price when it decides how much to charge d. can sell additional units of output without lowering its price e. is also a perfect price discriminator
Demand for the product of an industry in perfect competition is assumed to be inelastic.
Answer the following statement true (T) or false (F)