In general, the demand functions for primary inputs reflect the:
A)provisions of union contracts.
B)utility- maximizing decisions of individuals.
C)demand for finished goods.
D)profit- maximizing decisions of firms.

Question

Quizplus · Accepted Answer

The demand functions for primary inputs are derived from the profit-maximizing decisions of firms, as firms seek to minimize costs and maximize profits by determining the optimal combination of inputs.

In General, the Demand Functions for Primary Inputs Reflect The