Which of the following is NOT a factor that determines the price elasticity of demand?
A) the amount that suppliers have made available
B) the percentage of a consumer's total budget spent on the good
C) the existence of substitutes
D) the length of time allowed for adjustments to change in the price of the commodities
A
You might also like to view...
What is a primary determinant of the asset demand for money?
I. the interest rate II. the opportunity cost of holding money III. the supply of money A) I only B) III only C) both I and II D) both II and III
Which of the following is not a limitation that regulators face when they implement average cost pricing?
a. Average cost pricing provides little or no incentive for firms to keep costs down. b. The accurate calculation of a firm's costs is difficult. c. Decisions are political and often influenced by special interests. d. All of the preceding are limitations faced by regulators implementing average cost pricing.