Other Things Constant, If the Demand for a Final Product

question 77

Multiple Choice

Other things constant, if the demand for a final product is quite elastic, the demand for a resource used to produce the product will tend to be

• A) highly inelastic.
• B) of unitary elasticity.
• C) a curve sloping upward to the right.
• D) quite elastic as well.

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Definitions:

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A metric that measures the proportion of potential economic output that is actually realized.

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