Which of the Following Is Not a Factor Affecting Elasticity

Type of elasticity in which the percentage change in the independent variable usually price causes a less than proportionate change in the dependent variable usually quantity. The four factors that affect price elasticity of demand are 1 availability of substitutes 2 if the good is a luxury or.

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A The ease of substitution between goods B The cost of producing the good C The number of substitute goods available D The proportion of ones budget spent on an item.

. Substitutability- the more available subs more elastic demand responsive to price change P. Solve Study Textbooks Guides. Take a look at the three factors that affect elasticity in section 63 on pages 211-213.

The three major forms of elasticity are price elasticity of demand cross-price elasticity of demand and income elasticity of demand. The goods price range. Which of the following would NOT affect a goods price elasticity of demand.

If a company depends. C a Time b Price of an input c. Several other factors affect the Price Elasticity of Demand PED.

Terms in this set 5 S. Help your classmates expand or refocus on what they have observed. Availability of substitutes type or nature of a product income price and time are the five known factors that affect the PED.

Which of the following is NOT a factor affecting elasticity-whether the good is a necessity or a luxury-the goods relative importance-availability of substitutes. Nature or type of Good. Due to the nature of crystals.

A availability of substitutes B the goods relative importance C whether the good is a necessity or a luxury D GDP. Proportion of income- larger proportion of income more elastic in demand price sensitive L. A number of factors can affect it.

Explain two barriers to entry for a new business. Economics questions and answers. Which of the following is not a factor affecting elasticity.

Apart from elastic fatigue some material will have change in their elastic property because of the following factors. Which of the following factors would NOT affect the own price elasticity of a good. Which of the following si the best example of the law of supply.

Goods that consumers demand more of when their incomes increase. Availability of resources is a factor. Which of the following is NOT a factor affecting elasticity.

Which of the following is a good that might not be bought when prices rise. There are no changes other than price that could affect consumers. Elasticity of Demand Class 12 MCQ with Answers Multiple choice questions Factors affecting Price Elasticity of Demand.

A demand curve is an accurate tool for predicting the decisions of consumers as long as. The Elasticity of Demand for a good is affected by its nature. Which of these is not a factor influencing elasticity of demand of a product.

The shift to the right in a demand curve means a n increase in demand. Click hereto get an answer to your question Which of these is not a factor influencing elasticity of demand of a product. Elasticity of supply is a measure of a producers ability to cope effectively with changes in demand.

One factor that can affect demand elasticity of a good or service is its price level. Some goods are more sensitive or elastic while some are less. Up to 256 cash back Which of the following is not a factor affecting elasticityaavailability of substitutesbthe goods relative importancecwhether the good is a necessity or a luxurydthe goods price rangeenone of the aboveShow full question.

26Which of the following is NOT a factor affecting price elasticity of demand a Availability of Substitutes b Proportion of Income Spent c Techniques of Production d Number of uses of a commodity. Elasticity is a general measure of the responsiveness of an economic variable in response to a change in another economic variable. Explain how each of the factors would or would not affect the price elasticity of demand for a good or service that your company or a company for which you have an interest produces.

Factors Affecting Elasticity SPLIT STUDY. Respond in 3-4 sentences at least. For example the change in the price level for a luxury car can cause a.

Expenditure share QUESTION 2 1 Which of the following increases the potential for sustainable long run industry profits.

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