A change in technology that increases the marginal physical product of an input will:
a. shift the input demand curve to the left
b. shift the input demand curve to the right.
c. result in a movement down along the input demand curve.
d. result in a movement up along the input demand curve.
b
Economics
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In the above figure showing a perfectly competitive firm's total revenue line, the firm's marginal revenue
A) falls as output increases. B) does not change as output increases. C) rises as output increases. D) cannot be determined.
Economics
Suppose that the price elasticity of demand for wheat is known to be -0.75. Will a good wheat crop (which increases the supply of wheat) be likely to increase or decrease the revenues of farmers? Carefully explain
What will be an ideal response?
Economics