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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