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uni67 uni67
wrote...
Posts: 475
5 years ago
When an input represents a larger proportion of a firm's total costs, then

• the usage of the input cannot be varied in the production function.

• demand for the input will tends to be more elastic.

• the input demand will not vary significantly with a change in input price.

• demand for the input will tends to be less elastic.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
Read 39 times
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Replies
wrote...
5 years ago
demand for the input will tends to be more elastic.
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