Changes in the Demand for an Industry's Output Are Felt

question 41

Multiple Choice

Changes in the demand for an industry's output are felt most by those factors that

• A) are inelastically supplied.
• B) are paid the highest factor prices.
• C) earn relatively little economic rent.
• D) have a sizable number of alternative uses.

---

Definitions:

Red Meat

Red meat refers to the meat of mammals, which is typically darker in color than poultry due to higher levels of myoglobin, often including beef, pork, and lamb.

BioFuel Energy

Energy produced from organic materials or biomass, offering a sustainable alternative to fossil fuels.

Ethanol Producer

A company or facility that manufactures ethanol, a type of biofuel, often from agricultural products like corn or sugarcane.

Utility

In economics, a measure of satisfaction or happiness that individuals get from consuming goods and services.