The Scale- Elasticity of Output Measures

question 62

Multiple Choice

The scale- elasticity of output measures:

• A)the slope of the production function.
• B)the responsiveness of factor supply to a change in factor price.
• C)responsiveness of output to a change in the scale of production.
• D)the degree to which inputs can be substituted as output changes.

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Definitions:

Pronoun

A word that takes the place of a noun, such as he, she, it, they, which can refer to people, places, or things.

Incorrect Tense

The use of a verb form that is not appropriate for the time frame or sequence of events discussed, leading to grammatical errors.

Suffering

The state of undergoing pain, distress, or hardship, which can be physical, emotional, or psychological.

Complained

To express dissatisfaction, discomfort, or annoyance about something.