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Answer to Question #126549 in Microeconomics for chantal
Question #126549
identify any six factors that can impact the price elasticity for biltong
Expert's answer
The following are factors that can impact the price elasticity
- Durability of the good.
- Daily basis of using the goods.
- Duration of time taken for switching between the commodities.
- The demand at peak and off-peak.
- Variety of close substitutes.
- The degree whether the good is a luxury.
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