Which of the Following Is Not a Major Determinant of the Price

question 204

Multiple Choice

Which of the following is not a major determinant of the price elasticity of demand?

• A)​availability of close substitutes
• B)​proportion of income spent on the good
• C)​The supply of goods available
• D)​amount of time that has elapsed since the price change

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Definitions:

Exchange Theory

A social psychological perspective positing that human relationships are formed and maintained based on negotiated exchanges and perceived benefits.

Violent Behavior

Violent Behavior entails actions that involve physical force intended to hurt, damage, or kill someone or something.

Benefits Outweigh

This phrase means the advantages or positive aspects of a situation are more significant than the disadvantages or negative aspects.

Illegal Drugs

Substances whose production, sale, or possession is prohibited by law.