which of the following is not a determinant of the price elasticity of demand for a good?
a. The time frame-whether it is in the short run or long run.
b. The number of substitute goods available.
c. The share of a consumer's budget.
d. The amount of income the consumer has.

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kijen8757 kijen8757

14-11-2022
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which of the following is not a determinant of the price elasticity of demand for a good?
a. The time frame-whether it is in the short run or long run.
b. The number of substitute goods available.
c. The share of a consumer's budget.
d. The amount of income the consumer has.

Respuesta :

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rafikiedu08 rafikiedu08 · Answer 1 · 2022-11-17T05:57:55+01:00

A determinant of the price elasticity of demand for a good which do not determine price elasticity is c. The share of a consumer's budget.

Price elasticity is a tool used by economists to analyse how supply and demand for a product fluctuate in response to price changes.

Supply has an elasticity, or price elasticity of supply, much like demand. Price elasticity of supply is the correlation between price change and supply change.

It is computed by subtracting the percentage change in price from the percentage change in quantity demand.

The two elasticities work together to determine what products are produced and at what costs.

Learn more about Price elasticity https://brainly.com/question/13565779

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which of the following is not a determinant of the price elasticity of demand for a good? a. The time frame-whether it is in the short run or long run. b. The number of substitute goods available. c. The share of a consumer's budget. d. The amount of income the consumer has.

Respuesta :

Otras preguntas

which of the following is not a determinant of the price elasticity of demand for a good?
a. The time frame-whether it is in the short run or long run.
b. The number of substitute goods available.
c. The share of a consumer's budget.
d. The amount of income the consumer has.