Price Elasticity of Demand Is Determined by a Number of Factors

question 174

Multiple Choice

Price elasticity of demand is determined by a number of factors, such as the necessity of the product or service, the cash outlay of the purchase relative to a person's disposable income, and

• A)the stage of the product or service in its product life cycle.
• B)the degree of carrying costs for the manufacturer or distributor.
• C)the availability of substitutes.
• D)the financial resources of the organization itself.
• E)the ability of the organization to meet sudden increases in demand.

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