How much of a resource a firm will purchase depends on
A) the price of that resource.
B) the productivity of that resource.
C) the selling price of the final product that the resource helps to produce.
D) the selling prices of close substitutes of the final product.
E) All of the choices are correct.
Correct Answer:
Verified
Q10: The substitution effect and the output effect
Q11: The additional output that one additional input
Q12: Productivity is _ per unit of _.
A)output;input
B)input;output
C)labor;capital
D)None
Q13: More complementary resources would tend to
A)raise the
Q14: Which statement is true?
A)A change in derived
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
Q20: The demand for a resource rises as
A)its
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