Which of the following goods is likely to have a derived demand?
a. Tractor
b. T-shirt
c. Italian food
d. Residential buildings
e. Cigarettes
a
You might also like to view...
A natural monopoly arises in an industry in which the per-unit cost of production is: a. lowest when there are a large number of producers in the industry. b. lower for the smaller firms than for larger firms
c. minimized at the output where the industry's profit is maximum. d. lowest when a single firm produces the entire output of the industry.
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
Asset prices in an economy are likely to fall if ________
A) firms' revenues rise B) labor supply falls C) labor demand increases D) investment falls
What is the relationship between gross investment, net investment, and depreciation? Which measures the change in the capital stock?
What will be an ideal response?