Answer to Question #126549 in Microeconomics for chantal

Question #126549
identify any six factors that can impact the price elasticity for biltong
1
Expert's answer
2020-07-17T12:12:28-0400

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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