The term "derived demand" refers to the idea that a change in the
A) demand for one good, say, tennis racquets, will affect the demand for related goods, say, tennis balls.
B) demand for a good is affected by the supply of that good.
C) demand for a good will affect the demand for the factors used to produce that good.
D) supply of a factor will affect the demand for that factor.
Correct Answer:
Verified
Q15: Between two wages, an individual's supply curve
Q16: Employers use screening mechanisms, such as GPA,
Q17: Most economists believe that the supply curve
Q18: The demand for factors (which arises from
Q19: For a factor price taker, the demand
Q21: Suppose a factor price taker purchases one
Q22: Exhibit 26-1 Q23: If for a firm MRP > MFC, Q24: A firm that is perfectly competitive will Q25: Exhibit 26-1
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