Relative to a Mobile Factor of Production, Economic Theory Suggests

question 70

Multiple Choice

Relative to a mobile factor of production, economic theory suggests that the price elasticity of supply for a highly immobile factor of production (for example, land) will be

• A) more elastic.
• B) less elastic.
• C) of unitary elasticity.
• D) this is a trick question; the price elasticity of supply for factors of production is not affected by factor mobility.

---

Definitions:

Existing One

This term does not seem to have a clear definition in a professional or business context and might not be a standard key term.

Market Segmenting

The practice of dividing a broad target market into subsets of consumers who have common needs, preferences, or characteristics, targeting them with specific marketing strategies.

Purchasing History

Recorded information detailing past transactions made by a buyer, used for analyzing buying behavior or trends.

Psychographic

Relating to the study of personalities, values, opinions, attitudes, interests, and lifestyles.