If the demand for a good decreases, the demand for the factors used to produce the good: None of the above answers is correct. decreases. could increase, decrease, or stay the same depending on whether the demand for the good is elastic, inelastic, or unit elastic. increases. stays the same.

If the demand for a good decreases, the demand for the factors used to produce the good: None of the above answers is correct. decreases. could increase, decrease, or stay the same depending on whether the demand for the good is elastic, inelastic, or unit elastic. increases. stays the same.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

If the demand for a good decreases, the demand for the factors used to produce the good:

None of the above answers is correct.

decreases.

could increase, decrease, or stay the same depending on whether the demand for the good is elastic, inelastic, or unit elastic.

increases.

stays the same.

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