Which of these is NOT a determinant of a product's price elasticity of demand?
A) size of the product
B) availability of substitute products
C) time period being examined
D) difference between luxuries and necessities

Question

Quizplus · Accepted Answer

The size of the product is not a determinant of a product's price elasticity of demand. Factors like the availability of substitutes, the time period for adjustment, and whether a product is a luxury or a necessity directly influence how sensitive demand is to price changes.

Which of These Is NOT a Determinant of a Product's