The More Elastic the Supply of a Resource,_____

question 117

Multiple Choice

The more elastic the supply of a resource,_____

• A)the greater the economic rent as a proportion of total earnings.
• B)the greater the opportunity cost as a proportion of total earnings.
• C)the fewer the alternative uses the resource has.
• D)the greater the derived demand for the resource.
• E)the lower the derived demand for the resource.

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Definitions:

Job Satisfaction

The level of contentment employees feel about their work, which can affect their performance and commitment.

Facets

Distinct aspects, phases, or dimensions of a topic, subject, or complex entity, often examined to gain a comprehensive understanding or perform a detailed analysis.

Employee Engagement

A strong sense of connection with the organization and passion for one’s job.

Gallup Organization

An American analytics and advisory company known for its public opinion polls conducted worldwide.