Which of the following factors is an important determinant of the magnitude of p...
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
Related Lesson: Elasticity in Areas Other Than Price | Elasticity
The correct answer is C.
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Durability of the product