The Input Demand Curve Is Likely to Be Relatively More

question 46

Multiple Choice

The input demand curve is likely to be relatively more elastic when:

• A)the demand for the final product is relatively elastic.
• B)it is difficult to substitute the input for another input in production.
• C)the supply of other inputs is relatively inelastic.
• D)demand for the input is measured over a short time period.

---

Definitions:

Proprietors

Individuals or entities that own a business or property, characterized by having legal title and the right to use property at their discretion.

John Locke

A 17th-century English philosopher renowned for his theories of natural rights and the social contract.

Bacon's Rebellion

A 1676 revolt led by Nathaniel Bacon against the colonial government in Virginia, reflecting the social tensions between frontier settlers and the colonial elite.