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A necessity and how narrowly the market is defined. A commodity has a high price elasticity of demand or elastic demand if it can be put into so many uses. Solved 1 Determinants Of The Price Elasticity Of Demand The income of the consumer also affects the elasticity of demand. Determinants of t…

The good is a luxury rather than a necessity d. The good is a luxury rather than a necessity. Http Newprairiepress Org Cgi Viewcontent Cgi Filename 4 Article 1012 Context Ebooks Type Additional Price elasticity of demand is high when demand is more adjustible to price change. The value of the p…

The cross price elasticity of demand coefficient will be a positive number a positive number greater than one d. If demand for a good is unit elastic and price increases then total revenue will stay the same if demand for a good is unit elastic and price decreases the total revenue will. 2 If d…