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Esperanza Tolley
on Nov 26, 2024

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Which of the following will not cause a shift in the demand for resource X?

A) a decline in the price of resource X
B) an increase in the price of the product that resource X is producing
C) a decrease in the price of substitute resource Y
D) an increase in the productivity of resource X

Substitute Resource

Alternative resources or inputs that can be used in place of another in the production process to produce a similar type of output.

Productivity

The efficiency with which input resources are converted into outputs, often measured as the ratio of output to input in a given time period.

  • Investigate the influence of shifts in the prices of inputs on the management of resources and the practices of firms.
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AK
Abbey K WilkinsNov 27, 2024
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