Multiple Choice
Which of the following does NOT influence the price elasticity of demand?
A) the amount by which the demand curve shifts when the price of another good changes
B) the number of substitutes available to consumers
C) the price of the good relative to total income
D) the time period buyers have to respond to a price change
E) whether the good is a necessity or a luxury
Correct Answer:
Verified
Correct Answer:
Verified
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