question archive Which of the following is not considered to be a determinant of the price elasticity of demand for a particular good? A) The quantity of the good that is supplied to the market
Which of the following is not considered to be a determinant of the price elasticity of demand for a particular good? A) The quantity of the good that is supplied to the market
Subject:EconomicsPrice:2.88 Bought3
Which of the following is not considered to be a determinant of the price elasticity of demand for a particular good?
A) The quantity of the good that is supplied to the market.
B) The time period under consideration.
C) The cost of the good relative to total income.
D) The number of available substitutes.
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The correct option is A) The quantity of the good that is supplied to the market.
The quantity of the good that is being supplied has no effect on the price elasticity of demand for the product. This because we are using the percentage change in demand and not the actual change in demand.
