The relation that the law of demand for factor defines is.

Related MCQs

• The producer’s demand for a factor of production is governed by the ___ of that factor.
• Equilibrium in the factor market achieved at the factor price and factor quantity is given by
• Who defines economic welfare as “that part of social (general) welfare that can be brought directly or indirectly into relation with the measuring rod of money.”
• Demand for factor of production is
• Under perfect competition, demand for a factor is its:
• Factor prices are determined in the factor market under the forces of
• If MRP = Price of the factor: firm should _______ at the unit of factor
• Under __________________, price is determined by the interaction of total demand and total supply in the market.
• Union leaders are in a better position to bargain for higher wages if demand for labour is
• A decrease in demand causes the equilibrium price to: