Input demand is called derived demand because:
a. demand for an input is derived from the demand for the product or service it produces.
b. demand for the output produced is also derived from consumer demand.
c. demand for an input is derived from its availability in the input market.
d. input demand actually determines how much output is produced.
a. demand for an input is derived from the demand for the product or service it produces.
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A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
A ________ person is indifferent to a bet that has zero expected value
A) risk-neutral B) risk-loving C) risk-averse D) rent-seeking
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a. True b. False Indicate whether the statement is true or false
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a. True b. False Indicate whether the statement is true or false