Multiple Choice
The more elastic the demand for a final product,
A) the more elastic will be the demand for the productive resources used.
B) the less elastic the supply of resources used in producing the product.
C) the less firms will reduce their usage of resources when the price of the resources increases.
D) the higher the MRP of the resources used to produce the product.
Correct Answer:

Verified
Correct Answer:
Verified
Q6: Prices in resource markets<br>A) provide users with
Q27: An unanticipated decline in the demand for
Q37: A decrease in the demand for a
Q68: The demand for a factor of production
Q92: As the price paid to a resource
Q123: Assume the average salary for a college
Q143: If there is a shortage of nurses,
Q175: Use the information given in the table
Q177: Suppose the price of aluminum rises, and
Q182: Which of the following would tend to