Economy, asked by sumitkumrawat3313, 6 months ago

9. State three factors which affect price elasticity of Demand​

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Answered by LastShinobi
1

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. We explore each of these in this video.

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