Economy, asked by bhawneek001, 5 months ago

Mention any three factors that effect the price elasticity of demand of a commodity .

Answers

Answered by seemaguptavns75

1

Various factors which affect the elasticity of demand of a commodity are:

Nature of commodity:
Availability of substitutes:
Income Level:
Level of price:
Postponement of Consumption:
Number of Uses:
Share in Total Expenditure:
Time Period:

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