The term "derived demand" refers to
A) a firm's estimated demand curve derived from sales data.
B) the demand for a factor of production that is derived from the demand for the good the factor produces.
C) the demand for financial products called derivatives.
D) a demand curve that derives from the availability of resources.
B
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A graph shows the wage rate of factory workers. The slope of the line is positive for periods when the wage rate is
A) low and falling. B) high and not changing. C) rising. D) high and falling. E) falling.
Suppose the demand curve for a good shifts rightward, causing the equilibrium price to increase. This increase in the price of the good results in
A) a rightward shift of the supply curve. B) an increase in quantity supplied. C) a leftward shift of the supply curve. D) a downward movement along the supply curve.