Question

Which of the following does not determine changes in the demand for a factor of production?...

Which of the following does not determine changes in the demand for a factor of production?
Price of that factor
Prices of other factors
Demand for the final product
Productivity of the resource
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Answer #1

Answer

Price of that factor

The demand for factor is a relationship between the price of the factor and the quantity of the factor change in demand will change the quantity of the factor.

Change in the price of other factors changes the demand for the factor

if the demand for the production increase or decrease the factor hiring rule changes the demand for factors

if the productivity increases or decreases the demand changes.

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