Question

various factors of price elasticity of demand​

Answer 1

Explanation:

The four factors that affect price elasticity of demand are (1) availability of substitutes, (2) if the good is a luxury or a necessity, (3) the proportion of income spent on the good, and (4) how much time has elapsed since the time the price changed.

Answer 2

Answer:

The four factors that affect price elasticity of demand are

• availability of substitutes
• if the good is a luxury or a necessity
• the proportion of income spent on the good
• how much time has elapsed since the time the price changed