Asked by
Jesus Corredor
on Oct 26, 2024
Verified
An increase in the market demand for electricians in the factor market might occur if the:
A) price of electrical repair and installation services rises.
B) demand for new houses falls.
C) price of copper electrical wiring increases.
D) wage for electricians falls.
Factor Market
The marketplace for services of factors of production (like labor, land, and capital) where firms buy resources needed to produce goods and services.
Electricians
Skilled workers specialized in installing, maintaining, and repairing electrical systems and equipment.
- Perceive the interplay between a merchandise's price point and the consumption desire for the factor responsible for its production.
Verified Answer
SS
Learning Objectives
- Perceive the interplay between a merchandise's price point and the consumption desire for the factor responsible for its production.