Answer to Question #189606 in Microeconomics for EAS Algera

Question #189606

What affects the price elasticity of demand for a good


1
Expert's answer
2021-05-06T13:24:42-0400

(1) Availability of substitutes.

(2) If the good is a luxury or a necessity.

(3) The proportion of income spent on the good.

(4) The number of times has elapsed since the time the price changed.


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