Asked by

Servando Garcia
on Nov 05, 2024

verifed

Verified

The idea that the demand for auto workers stems from the demand for automobiles is

A) the value of the marginal product of auto workers.
B) derived demand.
C) indirect demand.
D) output demand.

Derived Demand

The demand for one good or service that occurs as a result of the demand for another good or service, often because the goods are related as inputs to the production of another good or service.

Auto Workers

Individuals employed in the automobile industry, typically involved in the manufacturing, assembly, or design of vehicles.

Demand for Automobiles

The consumer desire to purchase cars, influenced by factors like income, price, and personal preferences.

  • Discern the differences between economic terms associated with labor demand, such as derived demand, marginal product, and marginal revenue product.
verifed

Verified Answer

SZ
Samantha ZayasNov 06, 2024
Final Answer:
Get Full Answer