Which of the following is an example of derived demand?
A) As income rises, the demand for TVs rises.
B) As the price of digital cameras decreases, the demand for camera lenses increases.
C) If the demand for tires decreases, the demand for rubber also decreases.
D) When the price of gasoline rises, the demand for automobile repair falls.
E) If consumers expect the price of coffee to rise, the demand for coffee rises.
Correct Answer:
Verified
Q16: Derived demand refers to _
A)the demand curve
Q17: In resource markets,_
A)households are the demanders and
Q18: The firm should hire another worker as
Q19: In the resource market,the demand for labor
Q20: In product markets,households _
A)demand the goods and
Q23: Other things constant,similar resources in alternative uses
Q24: Both sugar and fructose can be used
Q25: The market supply curve of labor is
Q26: The market supply curve of a resource
Q26: Exhibit 11.1
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents