Use the Figure Below to Answer the Following Questions

question 35

Multiple Choice

Use the figure below to answer the following questions.

Figure 4.1.2
-Factors that influence the elasticity of demand include

• A)the closeness of substitutes.
• B)the price of complements but not the price of substitutes.
• C)income.
• D)preferences.
• E)the price of substitutes and complements.

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Definitions:

E-marketplaces

Virtual platforms where buyers and sellers meet to exchange goods, services, or information.

Trading Community

A group of individuals or entities engaged in buying, selling, or exchanging goods and services among themselves.

Private Exchanges

Marketplaces operated by private entities where goods, services, or financial instruments are traded mostly between members.

Organizational Buyers

Entities such as businesses, governments, and institutions that purchase products or services for their own use, for resale, or for production purposes.