The demand for a resource rises as
A) its productivity rises and the relative prices of substitutable resources rise.
B) its productivity rises and prices of substitutable resources fall.
C) its productivity falls and the relative prices of substitutable resources fall.
D) its productivity falls and prices of substitutable resources fall.
Correct Answer:
Verified
Q15: How much of a resource a firm
Q16: A fall in the demand for the
Q17: A rise in the wage rate would
Q18: You can find the MRP by multiplying
Q19: In general,the MRP _ as output increases.
A)declines
B)rises
C)stays
Q21: If a large decrease in rent leads
Q22: If labor and capital are substitute resources
Q23: An increase in the demand for steel
Q24: Suppose that land and labor are substitute
Q25: As output rises,
A)marginal revenue product declines.
B)marginal revenue
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents