What is derived demand, Microeconomics

Assignment Help:

The demand for every productive resources is a derived demand.  By derived demand it is meant that it is the output of the resource and not the resource itself for which is a demand by its employer.  In other words, the demand for any factor of production is the list of the value of its marginal productivity.  

 


Related Discussions:- What is derived demand

Behavioural economics, An economics branch which keep concentrate on illumi...

An economics branch which keep concentrate on illumination the economic decisions people make in practice, particularly when these conflict with what conventional economic theory p

Instant help from economics tutors Environmental economics, Environmental e...

Environmental economics goes back to the 19th century. Economists who research the planet are mainly worried with the idea of externalities, rare organic sources, and with the pro

Determine the solution of the homogeneous system, The reduced row echelon f...

The reduced row echelon form of  A=    is equal to R = (a)  What can you say about row 3 of A? Give an example of a possible third row for A. (b)  Determine the values o

Theory of monopolistic competition, The very name of this market type sugge...

The very name of this market type suggests that it is a combination of the monopoly and competitive firms. The characteristics of such a market are: 1. There exists large n

Wage labour, Wage Labour: A form of work in that employees perform labour f...

Wage Labour: A form of work in that employees perform labour for others, under their direction, in return for salaries orwages. Employer controls and owns the product of the labour

Economics, Economics- Definition Economics is the study of how societie...

Economics- Definition Economics is the study of how societies utilize limited resources to make valuable commodities and allocate them among diverse people. Microeconomics h

Surplus- economics, Surplus: Anysector or agent in economy (business, hous...

Surplus: Anysector or agent in economy (business, householdor government) experiences a surplus when its income surpasses its expenditure. Surplus, Economic: For the economy

Snob appeal possibility, Situation is where a luxury is there. There is the...

Situation is where a luxury is there. There is the snob appeal possibility where the higher the price, the more desired the commodity it.  Often people will drive expensive cars, e

Monopoly, what is the total cost if the price of 10,quantity demanded is 9...

what is the total cost if the price of 10,quantity demanded is 900000, at $20 it is 800000? The author is paid 2 million dollars to write a book, the marginal cost of publishing t

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd