Which of the following factors is an important determinant of the magnitude...
Question
Which of the following factors is an important determinant of the magnitude of price elasticity of demand?
Options
A) The production period
B) Cost of storage
C) Durability of the product
D) Availability of factors of production
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Discussion
Studies show that we remember only 10 - 50% of what we learn passively (e.g. by watching others do it, reading or listening) two weeks later, whereas, we remember 70 - 90% of what we learn actively (e.g. by actually doing it ourselves, speaking or writing about it). This means that posting a comment, contribution, explanation or reply here is a great way to evaluate what you know and practice active recall. This will help you learn actively and retain more. Always remember to be civil and polite. Note also that you earn XP points when you make contributions to help others learn.
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