If Two Inputs Are Gross Substitutes,their Substitution Elasticity Will Be

question 32

Multiple Choice

If two inputs are gross substitutes,their substitution elasticity will be

• A) zero.
• B) positive.
• C) negative.
• D) .2- 1.
• E) 1.

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Definitions:

Intrinsic Value

The inherent worth of something, independent of its utility or application towards any practical purpose.

Extrinsic Value

The worth attributed to an object, entity, or condition based on its utility or impact on others, rather than its inherent nature.

Utilitarian Value

The usefulness or practical benefit of something, especially regarding the greatest happiness or benefit to the greatest number of people.

Vulnerable Habitats

Ecosystems or environments that are at risk of degradation, damage, or destruction due to human activities, climate change, or natural phenomena, requiring special attention for conservation.