Which of the Following Is an Example of a Firm's

question 64

Multiple Choice

Which of the following is an example of a firm's derived demand?

• A)Workers with higher levels of education earn more,on average,than workers with lower levels of education.
• B)Factors that decrease the demand for labor will decrease the equilibrium wage.
• C)A tractor manufacturer's demand for assembly-line workers is inseparably linked to the supply of tractors.
• D)Factors that increase the demand for labor will increase the equilibrium wage.

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Definitions:

Surrealism

A successor to Dada, Surrealism incorporated the improvisational nature of its predecessor into its exploration of the ways to express in art the world of dreams and the unconscious. Biomorphic Surrealists, such as Joan Miró, produced largely abstract compositions. Naturalistic Surrealists, notably Salvador Dalí, presented recognizable scenes transformed into a dream or nightmare image.

Indifference Curve

An indifference curve is a graph that shows a combination of two goods that give a consumer equal satisfaction and utility, indicating preferences irrespective of consumption mix.

Slope

A measure of the steepness or inclination of a line, indicating the change in the vertical axis relative to the change in the horizontal axis.

Consumer

A consumer is an individual or group who purchases goods and services for personal use from the market, contributing to demand.