Module 69 Featured Worksheet 2 Changes in Factor Demand 1. What are three factors that shift factor demand? 2. Classify the following statements regarding a rm producing breakfast cereal according to the three determinants you listed above. In the second column, state the direction of change in the demand for labor. Change in Determinant of demand for demand for labor labor/direction DL curve shifts Statement 1. New technology introduced in the ABC Company increases each worker's marginal product. 2. The cost of new equipment for boxing cereal decreased and the company laid off one cereal boxer after buying the new equipment. 3. An increase in demand cereal has increased its price. 4. A popular magazine touts cereal as a healthy choice for breakfast. 5. There is an increase in the price of grains used to make cereal. 6. Improved technology has raised the productivity of cereal workers. 7.The wages of cereal workers decrease