The Demand for a Factor Will Be More Elastic If

question 22

Multiple Choice

The demand for a factor will be more elastic if

• A) there is little substitutability between factors.
• B) the supply of the factor is elastic .
• C) it is easier to substitute between this factor and others.
• D) the demand for the good being produced is inelastic.
• E) that factor determines a small percentage of total cost.

Identify common ethical issues encountered in business.

Understand strategies to address rationalizations for unethical behavior.

Recognize the role of ethics training in promoting ethical behavior within organizations.

Understand the impact of pressure to achieve goals on ethical behavior.

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Definitions:

Size

The physical dimensions or magnitude of an object or part.

Profile-Of-A-Surface Tolerance

A geometric dimensioning and tolerancing specification that controls the form, orientation, and location of surfaces across the entire feature.

Straight, Flat Surfaces

Planar extents that are even and uniform, without curvature, essential in manufacturing and construction for accurate assembly and dimensional consistency.

Profile Tolerances

The permissible variation in a feature's contour or shape from its ideal form, which ensures the part can function correctly within its intended application.