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Economics, 6/e
Stephen L. Slavin

Demand In The Factor Market

Chapter 27 - Demand in the Factor Market



1

The derived demand for a resource is its .
2

If land and labor are complementary resources, and the price of labor goes up, the employment of land goes .
3

If land and capital are substitutable resources, if the price of land goes down, the employment of capital .
4

The demand for a resource is derived mainly from the demand for the .
5

A firm will keep using more and more capital until the MRP of the last unit of capital used is equal to the .