Which of the Following Would NOT Affect a Good's Price

question 56

Multiple Choice

Which of the following would NOT affect a good's price elasticity of demand?

• A) whether the good is a necessity
• B) the proportion of the budget devoted to the good
• C) the number of substitute goods
• D) the ease of substituting between the goods
• E) the cost of producing the good

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Definitions:

Intimate Details

Very personal, private, or detailed information about someone or something, typically shared in a close or confidential context.

Group Size

The number of individuals constituting a group, which can influence the group's dynamics, behavior, and outcomes.

Public Places

Areas that are open and accessible to people, such as parks, streets, and public squares, often owned or controlled by public authorities.

Cafeterias

Public dining spaces where food is served, typically in institutional settings like schools or workplaces.