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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
.
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