Relative to a Mobile Factor of Production, Economic Theory Suggests

question 70

Multiple Choice

Relative to a mobile factor of production, economic theory suggests that the price elasticity of supply for a highly immobile factor of production (for example, land) will be

• A) more elastic.
• B) less elastic.
• C) of unitary elasticity.
• D) this is a trick question; the price elasticity of supply for factors of production is not affected by factor mobility.

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Definitions:

Nephron

The functional, microscopic unit of the vertebrate kidney.

Peritubular Capillaries

In the mammalian kidney, a capillary network that surrounds each renal tubule; receives blood from the efferent arterioles.

Ureters Connect

The function of ureters is to transport urine from the kidneys to the bladder, facilitating urinary excretion.

Kidney

A pair of bean-shaped organs in vertebrates that filter waste products from the blood and excrete them, along with water, as urine.