If demand for the product you make were to suddenly decline, you would expect the equilibrium price of the product to fall, which would lead to:

Name: If demand for the product you make were to suddenly decline, you would expect the equilibrium price of the product to fall, which would lead to:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

If the output price falls, then so will the dollar value of the additional output a firm gets by employing one additional unit of labor. In other words, the VMP of each worker will fall.

If Demand for the Product You Make Were to Suddenly