An individual firm’s demand for a factor of production ? Options: A . &nbspSlopes downward because an increase in the production of output reduces the price at which the output can be sold in a competitive market, thereby red B . &nbspSlopes downward due to the factor’s diminishing marginal product C . &nbspslopes upward due to the factor’s increasing marginal product D . &nbspis perfectly elastic (horizontal) if the factor market is perfectly competitive

An individual firm’s demand for a factor of production ?

Discussion Forum : Production Factors For Economics

Question - An individual firm’s demand for a factor of production ?

Options:

A . Slopes downward because an increase in the production of output reduces the price at which the output can be sold in a competitive market, thereby red

B . Slopes downward due to the factor’s diminishing marginal product

C . slopes upward due to the factor’s increasing marginal product

D . is perfectly elastic (horizontal) if the factor market is perfectly competitive

Answer: Option B
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!

Was this answer helpful ?

Next Question

Discussion Forum : Production Factors For Economics

Submit Your Solution hear: