The Price Elasticity of Demand for a Variable Input Will

question 137

Multiple Choice

The price elasticity of demand for a variable input will be more elastic in all the following cases EXCEPT

• A) the greater the price elasticity of demand for the final product.
• B) the easier it is for a particular variable input to be substituted for by other inputs.
• C) the larger the proportion of total costs accounted for by a particular variable input.
• D) the shorter the time period being considered.

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Definitions:

Pertaining To

Relating to or connected with.

Osseous Tissue

is a major structural and supportive connective tissue of the body, forming the skeletal system; also known as bone tissue.

Cancellous Tissue

A spongy type of bone tissue found at the ends of bones and in the interior of vertebrae, known for its porous, honeycombed structure.

Marrow

Marrow is the soft, spongy tissue inside bones that produces blood cells.