Output Elasticity Is the Percentage Change in Output That Results

question 14

Multiple Choice

Output elasticity is the percentage change in output that results from a 1 percent increase _____.

• A) in all the inputs
• B) in the price of an input
• C) in the price of the final product
• D) in the marginal revenue product of a variable input
• E) in the marginal product of an input

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Definitions:

Carbon Monoxide

A colorless, odorless toxic flammable gas formed by incomplete combustion of carbon.

Nicotine

A stimulant and addictive substance found in tobacco plants, commonly used in cigarettes and vaping products.

Tar

A dark, thick, and sticky liquid or semi-solid material derived from the distillation of organic matter, used in road construction and as a waterproofing agent.

Atomic Bombs

A weapon of mass destruction that derives its destructive force from nuclear reactions, either fission or a combination of fission and fusion.