In a general equilibrium setting, the demand curves for production inputs are determined by:
A)utility maximization by firms.
B)profit maximization by firms.
C)cost minimization by firms.
D)utility maximization by consumers.

Question

Quizplus · Accepted Answer

Cost minimization by firms determines the demand curves for production inputs in a general equilibrium setting.

In a General Equilibrium Setting, the Demand Curves for Production