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Answered

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what are determinants of price elasticity of goods?​

Sagot :

rrajukc7

Answer:

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. If income elasticity is positive, the good is normal

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