Which of the Following Factors Would Not Affect the Own-Price

question 164

Multiple Choice

Which of the following factors would not affect the own-price elasticity of a good?

• A)Time.
• B)Price of an input.
• C)Available substitutes.
• D)Expenditure share.

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Definitions:

Future Business Activity

Predictions or estimations about the levels of commercial, industrial, or professional operations and engagements in the upcoming period.

Keynesian Model

An economic theory stating that active government intervention is necessary to manage economic fluctuations and stimulate demand during downturns.

Money Supply

The sum of all funds available in an economy, including cash, coins, and checking and savings account balances, at a particular point in time.

Foreign Exports

Products or services that are manufactured in one nation and purchased by consumers in a different country.