An Increase in the Demand for Automobiles Will Increase the Demand

question 172

Multiple Choice

An increase in the demand for automobiles will increase the demand for labor used to produce the automobiles due to a(n)

• A)increase in the marginal revenue product of labor
• B)decrease in the marginal revenue product of labor
• C)increase in the marginal revenue product of automobiles
• D)decrease in the marginal revenue product of automobiles
• E)decrease in the price of automobiles

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Definitions:

Small Amount

A quantity that is less than average or nominal, often referring to a minimal or insignificant portion of something.

Opinion

A belief or judgment that rests on grounds insufficient to produce complete certainty.

Cognitive Dissonance

The discomfort in one's mind arising when an individual simultaneously holds multiple conflicting beliefs, ideas, or values.

Political Candidate

An individual who offers themselves for election to a political office or position within a government.