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.
Which of the following does not determine changes in the demand for a factor of production?...
Which of the following factors DOES NOT lead to a shift in the demand curve for a particular product? Its Price Prices of other goods Income Tastes and Trends
A firm's decision to hire a factor of production DOES NOT depend on which of the following? The price of the product produced by the factor input в ) The average product of the factor input (c) The price of the factor input The demand for the product the factor produces The marginal product of the factor input Which of the following will occur in a given labor market when the wage rate rises? The quantity demanded of labor will...
QUESTION 4 20 points Save Answer How does factor of production flow in the market for the factors of production? a. When domestic investment equals net capital outflow When demand equals the domestic investment and net capital outflow مصاعه أنصدمت Question Completion Status: House had provides labor and Cirms Speeduct uses labor to make final product When the amount people want to save equals supply of d. Joanable funds
8.) Derived demand is exemplified in which of the following? a.) The salary of computer techs rise, resulting in a decrease in supply and an increase in demand. b.) The salary of computer techs fall, resulting in an increase in supply and a decrease in demand. c.) Consumers want computers, so producers raise the price of computers. d.) Consumers want faster computers, so technology firms invest in capital and labor. e.) None of the above 9.) Demand for capital a.)...
When calculating the price elasticity of demand, which of the following conditions must be satisfied? All other factors that influence demand must be held constant. Prices of related goods must be allowed to vary but all other factors must be held constant. Prices of related goods must be held constant but all other factors must be allowed to vary. All other factors than influence demand must be allowed to vary.
1. (Specific Factor Model, Chapter 3) In the "simple" version of the specific factor model, there are two sectors (goods), one factor (labor) that is perfectly mobile between the two sectors, and one fixed - or specific - factor in each sector. To be concrete, suppose the two goods are food and clothing, the specific factor in food is "land" - represented by "T", and the specific factor in clothing is "capital", represented by "K'. The production functions for each...
Microeconomics: Briefly discuss the relationship between the conditional factor demand and the cost function. What does concavity of the cost function in factor prices imply for the effect of own factor price on conditional factor demand? Explain briefly.
14) Money Resource (Factor) Market production income Factors of v Businesses Households Product Market expenditures Consumption Use this circular flow diagram illustrating the roles of businesses and individuals in both the product and resource markets to answer any questions that follow, Arrow IV represents the flow of which three things? A investment, credit, and capital Product Market expenditures Consumption Use this circular flow diagram illustrating the roles of businesses and individuals in both the pr resource markets to answer any...
Conditional/Unconditional demand for an input factor A firm produces an output using production function Q = F(L, K):= L1/2K1/3. The price of the output is $3, and the input factors are priced at pL 1 and pK-6 (a) Find the cost function (as a function of output Q). Then find the optimal amount of inputs i.e., L and K) to maximize the profit (b) Suppose w changes. F'ind the conditional labor deand funtionL.Px G) whene function L(PL.PK for Q is...
Conditional/Unconditional demand for an input factor A firm produces an output using production function Q = F(L, K):= L1/2K1/3. The price of the output is $3, and the input factors are priced at pL 1 and pK-6 (a) Find the cost function (as a function of output Q). Then find the optimal amount of inputs i.e., L and K) to maximize the profit (b) Suppose w changes. F'ind the conditional labor deand funtionL.Px G) whene function L(PL.PK for Q is...