1.

6 Detine elasticity of demand what are the determinants of elasticity of demand ​

Answer»

ong>ANSWER:

There are several factors that AFFECT how elastic (or inelastic) the price elasticity of demand is, such as the availability of substitutes, the TIMEFRAME, the share of income, whether a good is a luxury vs. a NECESSITY, and how narrowly the market is defined.

Explanation:

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