Consider a competitive firms demand for a factor of, Ask an Expert

Economics

Consider a competitive firm's demand for a factor of production as a function of the factor price when prices of other factors are given. let us consider two case

1. The quantity of output is fixed

2. The price of the product is fixed. the elasticity of demand is greater in second case than in the first.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91236994

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