Which of the following is not a determinant of price elasticity of demand?
A) Scope of the market
B) Availability of complements
C) Cost relative to income
D) Adjustment time

Question

Quizplus · Accepted Answer

Availability of complements is not a determinant of price elasticity of demand. Price elasticity of demand is influenced by factors such as the scope of the market, the cost of the good relative to income, and the time consumers have to adjust to price changes, but not directly by the availability of complementary goods.

Which of the Following Is Not a Determinant of Price