The elasticity of resource demand will be greater, Ask an Expert

Economics

The elasticity of resource demand will be greater the:

smaller the portion of the product's total costs accounted for by the resource.

less the elasticity of demand for the product it is producing.

easier it is to substitute other resources in production.

less the elasticity of resource supply.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91678247

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