A firm's downward sloping demand for an input is determined by the:
A) Marginal Revenue of output and the price of the input.
B) Marginal Revenue of output and the marginal product of the input.
C) demand for output.
D) Marginal Revenue of output and the average product of the input.
Correct Answer:
Verified
Q30: the own price elasticity of demand for
Q31: If the input market is competitive and
Q32: Investment in training is called:
A)human capital.
B)foregone income.
C)current
Q33: When dealing with the demand for inputs
A)substitution
Q34: The dead weight loss of a monopsonist
Q36: The demand for labour:
A)is not the result
Q37: Firms will hire labor up to the
Q38: In general, the supply functions of intermediate
Q39: An increase in the interest rate will:
A)shift
Q40: The marginal revenue product is:
A)equal to the
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