The price elasticity of demand is determined by all of the following except the
A) time period under consideration
B) availability of substitute goods
C) amount of spending on the good compared to the consumer's income
D) cost of producing the good

Question

Quizplus · Accepted Answer

The cost of producing the good does not directly affect the price elasticity of demand, which is a measure of how much the quantity demanded of a good responds to a change in the price of that good. The other options (A, B, C) are factors that influence consumers' responsiveness to price changes.

The Price Elasticity of Demand Is Determined by All of the Following