AP® Microeconomics

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Moderate

Factor Markets: Inelastic Resource Demand

APMICR-8TOMCY

Which of the following would make the demand for a resource more inelastic?

A

The number of substitutes for the resource increases.

B

The demand for the product that the resource is used to produce increases.

C

The demand for the product that the resource is used to produce decreases.

D

The cost of the resource, as a percentage of total cost, decreases.

E

The demand for the product that the resource is used to produce becomes more elastic.