Asked by
Ra'Nica Phillips
on Nov 26, 2024
Verified
If the demand for a product produced by an input decreases, the demand for the input will also decrease.
Input Decrease
A reduction in the amount, quality, or efficiency of any raw material, capital, or labor used in the production process.
- Absorb the concept of derived demand and understand its correlation with the demand for assets such as labor and capital.
Verified Answer
MS
Learning Objectives
- Absorb the concept of derived demand and understand its correlation with the demand for assets such as labor and capital.