Asked by
Rebecca Ramos
on Oct 12, 2024
Verified
An increase in the demand for steel occurs.As a result,firms in the steel industry will
A) experience no change in their demand for capital.
B) decrease their demand for capital.
C) decrease both output and their demand for capital.
D) increase their demand for capital.
Demand for Steel
The total quantity of steel that buyers in the market are willing and able to purchase at various prices over a given period.
Demand for Capital
The desire for acquiring new machinery, buildings, and other investments to expand business operations or efficiency.
- Evaluate the impact of market and economic changes on the demand for labor and resources.
Verified Answer
TM
Learning Objectives
- Evaluate the impact of market and economic changes on the demand for labor and resources.