Which of the Following Is NOT a Determinant of the Price

question 242

Multiple Choice

Which of the following is NOT a determinant of the price elasticity of demand?

• A) the number of producers of the good
• B) the number of substitutes available to buyers
• C) the time consumers have to adjust to a price change
• D) expenditures on the item as a percentage of a consumer's total budget

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Definitions:

Piaget's

Referring to the theories of cognitive development proposed by Jean Piaget, which describe how children's abilities to think and reason develop through distinct stages.

Cellular-Clock Theory

A theory suggesting that aging is the result of cells hitting a limit on the number of times they can replicate, often tied to the length of telomeres.

Cells

Basic structural and functional units of all living organisms, essential for life processes.

Dividing

The act or process of separating or partitioning something into parts or portions.