Derived Demand

question 159

Multiple Choice

Derived demand:

• A)is the sum total of all factors of production for a given good or service.
• B)refers to the demand for variable inputs when at least one fixed input exists.
• C)refers to the supply decisions of a final good influencing the demand for the inputs needed to make it.
• D)is only computed for long run demand decisions based on short run marginal changes.

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Definitions:

Recognized

Generally refers to the acceptance or acknowledgment of something as valid, legal, or official.

Substantial

Of considerable importance, size, or worth; significant enough to merit attention.

Assignee

is an individual or entity to whom rights or interests have been transferred by another party.

Timely Fashion

Completing tasks or obligations within a designated or reasonable time frame.