Which Would Result in a Decrease in the Elasticity of Demand

question 80

Multiple Choice

Which would result in a decrease in the elasticity of demand for a particular resource?

• A) A decrease in the rate at which the marginal product of that resource declines.
• B) An increase in the elasticity of demand for the product that the resource helps to produce.
• C) A decrease in the percentage of the firm's total costs accounted for by the resource.
• D) An increase in the substitutability of other resources for the particular resource.

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Definitions:

Short-Run Forecast

A prediction of future events or trends that is focused on a relatively immediate time frame.

HR Forecasting Process

The systematic process used by Human Resources to predict future staffing requirements based on current data, trends, and strategic plans.

Organizational Requirements

The needs or conditions that an organization must meet to achieve its objectives effectively.

HR Forecasting

The process of predicting future human resources needs of an organization based on current data, trends, and projected changes in the business environment.