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Which of the Following Is a Determinant of the Price

Question 129

Multiple Choice

Which of the following is a determinant of the price elasticity of demand for an item?


A) the availability of a close substitute for the item
B) the percentage of a consumers budget allocated to expenditures on the item
C) the amount of time available to adjust to a change in the price of the item
D) All of the above are correct.

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