The Demand for a Factor of Production Will Be More

question 68

Multiple Choice

The demand for a factor of production will be more inelastic

• A) when the cost of the factor is small relative to the total cost of the product.
• B) the more elastic the demand for the final product.
• C) the easier it is to substitute other resources for the factor.
• D) the more elastic the supply of products produced with the resource.

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