--%>
Assignment Help - homework help

Substitution and Demands for Resources

When the relative price of a resource decreases, we would usually expect a firm to employ less units of: (w) that resource due to the substitution effect. (x) that resource because of the output effect. (y) complementary resources due to the substitution effect. (z) substitute resources due to the substitution effect.

Hey friends please give your opinion for the problem of Economics that is given above.

   Related Questions in Managerial Economics

  • Q : Requirement of Screening Boris operates

    Boris operates a local landscaping company, needs each potential employee to lift a 200 pound tree before being hired whole-time. This obligation is an example of: (1) signaling. (2) discrimination. (3) screening. (4) derived demand. (5) automation.

    Q : Allocative and technical efficiency in

    Economy-extensive efficiency needs both allocative and technical efficiency within production and: (w) equity within the distribution of national income. (x) biological efficiency, in that people's basic desires should be met. (y) pol

    		•
  • Q : Hiring more labor in profit maximization

    When a firm hires an additional worker who adds $100 worth of output daily, and adds $50 daily to the firm’s costs, in that case the firm must: (w) hire more labor. (x) hire less labor. (y) not change its employment of labor. (z) sell off some o

    		•
  • Q : Income and Substitution Effects When

    When the income effect of a higher wage rate is extremely powerful in that case the substitution effect, the: (1) supply curve of labor will be positively sloped. (2) demand for leisure increases like income rises. (3) human capital effect is stronger

    		•
  • Q : Definition of Managerial economics

    Describes the definition of Managerial economics according to Douglas?

    		•
  • Q : What are the Methods of Demand

    What are the Methods of Demand Forecasting?

    		•
  • Q : States the Demand Forecasting in terms

    States the Demand Forecasting in terms of production?

    		•
  • Q : Labor Productivity Where diminishing

    Where diminishing returns overwhelm gains through the division of specialized labor, when there is an inflection point on the total revenue curve derived by a total output curve, and by the vantage point of a purely competitive firm h

    		•
  • Q : States the Wealth Definition in

    States the Wealth Definition in economics?

    		•
  • Q : What are the characteristics of a

    What are the characteristics of a business cycle?

    		•