This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: For a firm selling its product in a perfectly competitive market, the demand curve for a factor of ... (Read 66 times)

BrownTown3

  • Hero Member
  • *****
  • Posts: 564
on: May 24, 2019
For a firm selling its product in a perfectly competitive market, the demand curve for a factor of production is downward sloping because
◦ of the diminishing marginal product of the factor.
◦ to sell more output, the firm must lower the price of its product.
◦ firms must hire more factors of production if they want to increase their output.
◦ a factor's marginal product increases when the price of the factor increases.
◦ None of these answers is correct.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by BrownTown3 on May 24, 2019

josephsuarez

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: May 24, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 49% of students answer this correctly


BrownTown3

  • Hero Member
  • *****
  • Posts: 564
Reply #2 on: May 24, 2019
Thank you!


josephsuarez

  • Sr. Member
  • ****
  • Posts: 323
Reply #3 on: May 24, 2019
Always glad to help...


« previous next »
 

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

An Oil-dependent World— Supply and Demand Driven An Oil-dependent World— Supply and Demand Driven
The human eye, a product of 600 million years of evolution (Lamb, Collin, & Pugh, 2007). The human eye, a product of 600 million years of evolution (Lamb, Collin, & Pugh, 2007).
Economic recession in 2008 saw a small decrease in demand Economic recession in 2008 saw a small decrease in demand
Importance of Considering Gestalt Principles in Product Design Importance of Considering Gestalt Principles in Product Design
The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur
Because the factor h on the right side of the Heisenberg uncertainty principle has units of ... Because the factor h on the right side of the Heisenberg uncertainty principle has units of ...
Video: Calvin Cycle Explained!

For a complete list of videos, visit our video library