Demand in factor markets differs from demand in product markets in that
A) the demand for a factor of production is difficult to determine.
B) the demand for a factor of production is influenced by workers' productivity and by the producers' expected sales revenues, not by tastes and preferences of consumers.
C) demand for a factor of production is based on the tastes and preferences of firms.
D) demand for a factor of production is based on the tastes and preferences of resource owners.
Correct Answer:
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Q1: Figure 17-1 Q2: Table 18-12 Q3: Marginal revenue product of labor for a Q6: Suppose you have worked at a local Q10: Figure 17-1 Q11: Marginal revenue product for a perfectly competitive Q15: Which of the following is not an Q16: A firm's demand for labor curve is Q17: Table 17-1 Q19: Table 17-1 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