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The demand for a factor of production is a derived demand. Derived demand means that: a firm's demand for a factor of production is derived

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The demand for a factor of production is a derived demand. Derived demand means that: a firm's demand for a factor of production is derived from its supply decision the firm's demand can be mathematically derived both the demand for and supply of factors of production is derived from an external market the demand curve for a good 1s derived from the factors of production used to produce that good Caowp

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