Price Elasticity of Demand Is Determined by a Number of Factors,such

question 3

Multiple Choice

Price elasticity of demand is determined by a number of factors,such as the availability of substitutes,the necessity of the product or service,and

• A)the cash outlay of purchase relative to a person's disposable income.
• B)the stage of the product or service in its product life cycle.
• C)the degree of carrying costs for the manufacturer or distributor.
• D)the financial resources of the organization itself.
• E)the ability of the organization to meet sudden increases in demand.

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Definitions:

Accounting

The systematic recording, reporting, and analysis of financial transactions of a business.

Installment Sales

A sales method allowing customers to make payments over a period of time until the full price is paid.

Gross Profit

A company's total revenue minus its cost of goods sold, indicating the basic profitability of its products or services.

Interest Payments

the regular payments made by a borrower to a lender, typically a percentage of the outstanding debt, as compensation for the loan or credit provided.