Which factor does NOT determine the price elasticity of demand?
A) the number of available substitutes
B) the time available to adjust to price changes
C) the proportion of the budget spent on the item
D) the slope of the supply curve
Correct Answer:
Verified
Q94: If a good is a luxury item
Q95: Determining the price elasticity of demand does
Q96: An important determinant of the price elasticity
Q97: If a good has a price-inelastic demand,then
Q98: If a good is a necessity with
Q100: If a good is a necessity with
Q101: If the price of chocolate-covered peanuts increases
Q102: The price elasticity of a good will
Q103: Which good is likely to have the
Q104: If two goods are complements,their cross-price elasticity
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents