Demand for Inputs Is a Derived Demand Because

question 23

Multiple Choice

Demand for inputs is a derived demand because:

• A) it is derived from the need for income.
• B) it corresponds to the derived supply of the inputs.
• C) the demand for output leads producers to demand inputs used to produce finished goods.
• D) of the diminishing marginal product of inputs.

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Definitions:

∆G°

The standard change in Gibbs free energy for a process, indicating whether a reaction is thermodynamically favorable under standard conditions.

∆H°

Standard enthalpy change of a reaction, representing the heat exchanged under standard conditions (1 atm, 298.15 K).

∆S°

The standard entropy change involves a process at a constant temperature and pressure, indicating the degree of randomness or disorder.

Dehydration

A chemical reaction where water is removed from a substance.