Which of the following is not considered to be a determinant of the price elasticity of demand for a particular good?
A)The number of available substitutes.
B)The cost of the good relative to total income.
C)The quantity of the good that is supplied to the market.
D)The time period under consideration.

Question

Quizplus · Accepted Answer

The quantity of the good supplied to the market has no effect on the price elasticity of demand for that good. The determinants of price elasticity of demand include the availability of substitutes, the cost of the good relative to total income, the time period under consideration, and the extent to which the good is regarded as a necessity or a luxury.

Which of the Following Is Not Considered to Be a Determinant