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When a firm has limited opportunities to make substitutes among inputs, we would expect the firm to make a)minimal changes in input selection with minimal

When a firm has limited opportunities to make substitutes among inputs, we would expect the firm to make

a)minimal changes in input selection with minimal price changes in the input

b)large changes in input selection with large price changes in the input

c)minimal changes in input selection with large price changes in the input

d)large changes in input selection with minimal price changes in the input

If the quantity demanded of capital does not change by a large amount when the price of capital increases by a large amount, we say that the demand elasticity of capital is

1) elastic

2) unit elastic

3) Can not be determined

4) inelastic

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