AP Microeconomics Assignment: Apply Concepts of Factor Demand 1. Resource prices affect an economic system in multiple ways. List and explain three of these effects. (3 points) 2. Derived demand A. Economists call the demand for a resource a derived demand. Explain what term derived means in derived demand. (2 points) B. How is the marginal-revenue-product curve related to the derived-factordemand curve? Why is the derived-factor-demand curve downward sloping with respect to price? (2 points) C. Why is the resource demand curve for a firm op