The Elasticity of Output with Respect to Capital

question 50

Multiple Choice

The elasticity of output with respect to capital

• A)is the increase in output resulting from an increase in the capital stock.
• B)is the percentage increase in output resulting from a 1 % increase in the capital stock.
• C)is always greater than one.
• D)is the inverse of the elasticity of output with respect to labor.

---

Definitions:

Biomedical Markets

Biomedical markets refer to the business sectors that involve the buying, selling, and trading of products and services related to medical and healthcare research, diagnosis, prevention, and treatment.

Social Value

The importance or beneficial impact of an action, policy, or practice on the well-being and functioning of a society or community.

Human Health

The state of physical, mental, and social well-being in individuals, not merely the absence of disease or infirmity.

Anthropogenic

Originating in human activity, commonly used in the context of environmental science to describe effects or processes that result from human influence on the natural world.