Which of the following is not the important factor that affects the magnitude of the own price elasticity of a good?
A)available substitutes.
B)supply of the good.
C)time.
D)expenditure share.

Question

Quizplus · Accepted Answer

While the supply of the good may affect the market price of a good, it does not directly affect the magnitude of the own price elasticity of demand. The other factors listed, such as available substitutes, time, and expenditure share, are all important determinants of a good's price elasticity of demand.

Which of the Following Is Not the Important Factor That