Cryptocurrency Q&A What is the elasticity of production in economics?

What is the elasticity of production in economics?

CherryBlossomKiss Fri Jan 24 2025 | 6 answers 1326

In economics, the elasticity of production refers to the responsiveness or sensitivity of output changes to changes in input factors such as capital, labor, or raw materials. It measures how much the quantity of production varies in response to variations in the factors of production. What is the elasticity of production in economics?

What is the elasticity of production in economics?

elasticity of production economics keyword

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