Asked by
Angel Salvatera
on Nov 26, 2024
Verified
Employers will hire more units of a resource if the
A) price of the resource increases.
B) productivity of the resource increases.
C) price of the good being produced declines.
D) price of a complementary resource rises.
Complementary Resource
A good or service that enhances the use or value of another good or service when the two are used together.
Productivity
A measure of the efficiency of production, often expressed as the ratio of outputs to inputs in a given timeframe.
- Become familiar with the aspects influencing the availability and requirement for labor and other resources.
- Discern the implications of input cost fluctuations on the production expenses and strategic choices of businesses.
Verified Answer
AA
Learning Objectives
- Become familiar with the aspects influencing the availability and requirement for labor and other resources.
- Discern the implications of input cost fluctuations on the production expenses and strategic choices of businesses.