The price of a resource is not directly a determinant of the price elasticity of demand for the resource.

Name: The price of a resource is not directly a determinant of the price elasticity of demand for the resource.
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Quizplus · Accepted Answer

The price elasticity of demand for a resource is determined by several factors such as availability of substitutes, time horizon, and proportion of income spent on the resource. The price of the resource itself is not the only factor that determines its price elasticity of demand.

The Price of a Resource Is Not Directly a Determinant