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X-AXIS: In a graph, this is one of two lines that intersect at a right angle at their origins. This is the "horizontal-axis" that runs from right and left. In most analyses, the variable measured on the X-axis is consider to be the independent variable.
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Lesson 21: Factor Demand | Unit 3: The Curve
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Page: 15 of 24
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Topic:
Factor Demand Curve
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A few points about this curve.- The factor demand curve is only the negatively-sloped portion of the marginal revenue product curve.
- The factor demand curve is negatively sloped because the marginal revenue product curve is negatively sloped, and this is due to the law of diminishing marginal returns.
- The factor demand curve stops at the horizontal axis where marginal revenue product is zero.
- This factor demand curve is based on the presumption that the firm was able to pay the same wage for each worker ($20 per hour).
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MARKET DEMAND The combined demand of everyone willing and able to buy a good in a market. Market demand is one half of the market. The other is market supply. It is graphically represented by a negatively-sloped market demand curve, which can be derived by combining, or adding, the individual demands of every buyer in the market.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either storage boxes for your computer software CDs or a set of tires. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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ATM
Automated Teller Machine
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