Price Elasticity of Demand Is Determined by a Number of Factors

question 2

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 the 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:

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An estimate that gives a range within which future observations will fall, with a specified probability.

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