Which of the Following Is a Determinant of the Price

question 328

Multiple Choice

Which of the following is a determinant of the price elasticity of demand for an item?

• A) The availability of a close substitute for the item
• B) The percentage of a consumers budget allocated to expenditures on the item
• C) The amount of time available to adjust to a change in the price of the item
• D) All of the above are correct

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