Question

explain any three factors affecting price elasticity of demand​

Answer 1

Answer:

1. Nature of the Good
2. Availability of Substitute Goods
3. Number and Variety of Uses of the Product
4. Proportion of Income Spent on the Good

Answer 2

Answer:

• Nature of the Good

• Availability of Substitute Goods

• Number and Variety of Uses of the Product

• Proportion of Income Spent on the Good