In a Competitive Resource Market, a Decrease in the Demand

question 23

Multiple Choice

In a competitive resource market, a decrease in the demand for a productive resource, ceteris paribus, will cause all of the following except a(n)

• A)decrease in the price of the resource.
• B)increase in the price of the resource.
• C)decrease in the total income earned by all units of the resource.
• D)decrease in the number of units of the resource that are employed.

---

Definitions:

Cerumen

A yellowish waxy substance secreted in the ear canal, commonly known as earwax.

Auricle

Another term for the external portion of the ear; it collects sound waves and directs them into the ear canal.

Tympanic Membrane

The thin membrane that separates the external ear from the middle ear, commonly known as the eardrum.

Ossicles

The three smallest bones in the human body, located in the middle ear, responsible for transmitting sound vibrations from the ear drum to the inner ear.