Output Elasticity Can Be Defined as The

question 36

Multiple Choice

Output elasticity can be defined as the:

• A) percentage change in output divided by the (equal) percentage change in all inputs.
• B) change in output divided by the change in all inputs.
• C) change in inputs divided by the change in output.
• D) change in output divided by the change in one input.
• E) percentage change in output divided by the (average) percentage change in all inputs.

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Definitions:

Combinations

The selection of items from a larger set where the order of selection does not matter.

Interaction Effect

In statistics, the effect on an outcome that varies depending on the levels of another variable, indicating that the effect of one variable depends on another.

Independent Variable

The variable in an experiment or study that is manipulated or classified by the researcher to observe its effect on the dependent variable.

Dependent Variable

In research, it's the outcome variable that is influenced by the independent variable.