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      Question

      The degree of responsiveness between output and input is

      measured by:
      A Elasticity of production Correct Answer Incorrect Answer
      B Total physical product Correct Answer Incorrect Answer
      C Factor- product relationship Correct Answer Incorrect Answer
      D Average physical product Correct Answer Incorrect Answer

      Solution

      Elasticity of Production (EP) measures the degree of responsiveness between output and input. It is independent of the units of measurement. EP=% change in output/% change in input

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