Economy, asked by Anonymous, 9 months ago

Indicate the determinants of of price elasticity.​

Answers

Answered by kD1499
2

Answer:

The most important determinant of a product's elasticity is the availability of close substitutes. If substitutes are available, customers are likely to be very responsive to changes in price. The demand is elastic. If substitutes are not available, demand is likely to be unresponsive to price changes.

Answered by ItzDazzingBoy
5

Answer:

The most important determinant of a product's elasticity is the availability of close substitutes. If substitutes are available, customers are likely to be very responsive to changes in price. The demand is elastic. If substitutes are not available, demand is likely to be unresponsive to price changes.

Explanation:

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