When an Input Represents a Small Proportion of a Firm's

question 262

Multiple Choice

When an input represents a small proportion of a firm's total costs, then

• A) demand for the input will tend to be less elastic.
• B) the input demand will vary significantly with a change in input price.
• C) the usage of the input cannot be varied in the production function.
• D) output demand will be highly elastic.

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