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Cornerstones of Cost Management 2nd Edition by Don Hansen ,Maryanne Mowen
Edition 2ISBN: 978-1111824402Cornerstones of Cost Management 2nd Edition by Don Hansen ,Maryanne Mowen
Edition 2ISBN: 978-1111824402 Exercise 15
(2009 CPA Exam) Which of the following characteristics would indicate that an item sold would have a high price elasticity of demand?
A) The item has many similar substitutes.
B) The cost of the item is low compared to the total budget of the purchasers.
C) The item is considered a necessity.
D) Changes in the price of the item are regulated by governmental agency.
A) The item has many similar substitutes.
B) The cost of the item is low compared to the total budget of the purchasers.
C) The item is considered a necessity.
D) Changes in the price of the item are regulated by governmental agency.
Explanation
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Price elasticity of demand is a measure ...
Cornerstones of Cost Management 2nd Edition by Don Hansen ,Maryanne Mowen
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