A fall in the price of the final product produced by a firm will cause
A) a decline in the price of an input used to produce the good.
B) a movement down the demand curve for an input used to produce the final product.
C) a reduction in demand for an input used to produce the final product.
D) a reduction in the supply of an input used to produce the final product.
C
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As workforces become more educated in countries with comparative advantage in labor-intensive products, the comparative advantage for the production of those labor-intensive goods shifts:
A. toward other countries with less cheap labor relative to the other factors of production. B. away from countries with more cheap labor relative to other factors of production. C. toward other countries with more cheap labor relative to the other factors of production. D. toward countries with more capital for production.
What role do losses play in a competitive market
What will be an ideal response?
formula for consumer price index
What will be an ideal response?
A nondiscriminating pure monopolist is generally viewed as:
A. both productively and allocatively inefficient. B. productively efficient but allocatively inefficient. C. productively inefficient, but allocatively efficient. D. both productively and allocatively efficient.