The Demand for a Resource Is Generally More

question 66

Multiple Choice

The demand for a resource is generally more

• A) elastic in the short run because it takes time to alter the ratio of resources used in many production processes.
• B) inelastic in the short run because it takes time to alter the ratio of resources used in many production processes.
• C) elastic in the short run because an increase in the price of the resource may not be expected to last.
• D) inelastic in the short run because once resource suppliers find out they can charge a higher price, they will do so in the long run.

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Definitions:

Smart And Pleasant

Possessing intelligence and causing enjoyment or happiness; often describes someone who is clever and agreeable in nature.

Complying

The act of conforming, submitting, or adapting one's behavior to match with rules, requests, or demands.

Small Requests

A technique where simple, non-burdensome tasks or favors are asked to gradually encourage compliance or build rapport.

Larger Requests

A persuasion technique where a more significant demand or appeal is made, possibly as a part of a strategy to achieve a smaller request later.