Which of the Following Does Not Determine a Good's Price

question 213

Multiple Choice

Which of the following does not determine a good's price elasticity of demand?

• A)the time interval considered
• B)the number of substitutes there are for the good
• C)expenditures on the good as a percentage of the total consumer budget
• D)the slope of the demand curve
• E)the more of a luxury a particular good is

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Definitions:

Zeigarnik Effect

The psychological phenomenon whereby individuals remember uncompleted or interrupted tasks better than completed ones.

Achievement

The accomplishment of an aim or purpose, often recognized because of effort or skill.

Goals

Goals or intended results that a person or a team strives to accomplish.

Overly Optimistic

Describes an excessive belief in the positive outcomes of situations or events, often ignoring possible risks or negative outcomes.