The producer’s demand for a factor of production is governed by the ___ of that factor.

Related MCQs

• Quantity of a certain goods producers are willing to supply when receiving a certain price is known as ______.
• Producers supply more at a higher price because selling more quantity at higher price increase revenue means what?
• Demand for factors of production is:
• Demand for a commodity refers to:
• If the demand for a good is inelastic, an increase in its price will cause the total expenditure of the consumers of the good to:
• Income elasticity of demand is defined as the responsiveness of:
• If all other factors remain equal, the higher the price of a good, the fewer people will demand that good means what?
• The total demand for goods and services in an economy is known as
• Identify The Three Motives Of Money Demand:
• The capital that is consumed by an economy or a firm in the production process is known as: