A Factor Demand Curve Will Shift Because Of

question 28

Multiple Choice

A factor demand curve will shift because of:

• A) a change in the number of firms.
• B) the slope of the MP curve.
• C) the elasticity of demand for the final product.
• D) the proportion of the factor's cost relative to total cost.

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Definitions:

Method of Substitution

A technique for solving systems of equations where one of the equations is solved for one variable in terms of the others, and then substituted into the other equation(s).

System of Equations

A set of equations with the same variables, which are solved together to find the values of these variables.

System of Equations

A set of two or more equations with the same set of variables, which are solved together.

\(n + 2\)

Represents an algebraic expression in which 2 is added to a variable n.