When compared to the demand curve for only one variable input, the demand curve for a factor input when several inputs are variable is
A) less elastic.
B) more elastic.
C) vertical.
D) horizontal.
B
Economics
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James opened a baseball manufacturing operation, and initially the more balls he made, the lower the per-unit cost. Now, as output expands, his per-unit costs are rising. He concludes that diseconomies of scale have set in. Is he correct? Why?
Economics
If more buyers came into the market for a good, we would expect to see the market demand curve
A) shift inward and to the left. B) remain unchanged since none of the determinants of individual demand changed. C) shift outward and to the right. D) reflect a positive relationship between price and quantity demanded.
Economics