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sasho [114]
3 years ago
13

List andand discuss the determinants of Price elasticity ofdemand?​

Social Studies
2 answers:
Mekhanik [1.2K]3 years ago
6 0

Answer:

The four factors that affect price elasticity of demand are (1) availability of substitutes, (2) if the good is a luxury or a necessity, (3) the proportion of income spent on the good, and (4) how much time has elapsed since the time the price changed. If income elasticity is positive, the good is normal.

Explanation:

frozen [14]3 years ago
3 0
The four factors that affect price elasticity of demand are (1) availability of substitutes, (2) if the good is a luxury or a necessity, (3) the proportion of income spent on the good, and (4) how much time has elapsed since the time the price changed. If income elasticity is positive, the good is normal.
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