Which of the following examples best illustrates the concept of "derived demand"? Select one: An increase in the wages of autoworkers will lead to an increase in the demand for robots in automobile factories. cross out O b. A decrease in the wages of autoworkers will lead to an increase in the cross out demand for robots in automobile factories. O c. An automobile producer's decision to supply more minivans results from cross out a decrease in the demand for station wagons. O d. An automobile producer's decision to supply more cars will lead to an increase in the demand for automobile production workers. cross out

Which of the following examples best illustrates the concept of "derived demand"? Select one: An increase in the wages of autoworkers will lead to an increase in the demand for robots in automobile factories. cross out O b. A decrease in the wages of autoworkers will lead to an increase in the cross out demand for robots in automobile factories. O c. An automobile producer's decision to supply more minivans results from cross out a decrease in the demand for station wagons. O d. An automobile producer's decision to supply more cars will lead to an increase in the demand for automobile production workers. cross out

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

21)

Which of the following examples best illustrates the concept of "derived demand"?
Select one:
O a.
An increase in the wages of autoworkers will lead to an increase in the
demand for robots in automobile factories.
cross out
Ob.
A decrease in the wages of autoworkers will lead to an increase in the
cross out
demand for robots in automobile factories.
O c. An automobile producer's decision to supply more minivans results from
a decrease in the demand for station wagons.
cross out
O d. An automobile producer's decision to supply more cars will lead to an
cross out
increase in the demand for automobile production workers.

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