Which will not be a determinant of the price elasticity of demand for an input?
A) the price of the input
B) the substitutability of other resources for the input
C) the elasticity of demand for the product it produces
D) the total cost of an input as a proportion of the total cost of producing units of output

Question

Quizplus · Accepted Answer

The price of the input itself is not a determinant of its price elasticity of demand; rather, it is the responsiveness of the quantity demanded to changes in price that defines elasticity.

Which Will Not Be a Determinant of the Price Elasticity