When the Demand Curve for an Input Is a Derived

question 170

Multiple Choice

When the demand curve for an input is a derived demand this means that

• A) the demand curve is derived from the demand for the final product being produced.
• B) the demand curve depends upon the MFC.
• C) the law of diminishing marginal product does not hold.
• D) the demand curve slopes upward.

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Definitions:

Predicate Term

An expression that conveys a property that a subject can have or a relation that can exist between the subject and another entity.

Quantifier

A term used in logic to specify the quantity of specimens in the domain of discourse that satisfy a certain condition.

Quantifier

A logical symbol that specifies the quantity of specimens in the domain of discourse that satisfy an open formula.

Categorical Proposition

A proposition that asserts or denies something about every member of a category.