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Which of the following is Not a determinant of the price elasticity of demand for a good?

a. Availability of substitute goods.

b. Factory inventory.

c. Time frame.

d. Share of consumer’s budget.

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Mahe Alam
Mahe AlamLv10
15 Sep 2020
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Related questions

Which of the following is a determinant of the price elasticity of demand?

a. The availability of a close substitute for the item

b. The percentage of a consumer's 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 these are correct

At any point on an indifference curve, the slope of the curve measures the consumer’s

a. income.

b. willingness to trade one good for the other.

c. perception of the two goods as substitutes or complements.

d. elasticity of demand.

List 3 factors that increase the price elasticity of demand for a good. Make your answers are complete (for example, substitute good€ is not a complete answer, but the availability of substitute goods€ or lack of substitute goods€ would be a complete [though not necessarily correct] answer).

a)

b)

c)

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