Q407
The degree of price elasticity of demand used for goods is influenced by whether 1. It has close substitutes 2. Its output is easily altered 3. It accounts for a small input 4. It is a durable use or single use goods
A.
1, 3 and 4 only
AnswerB.
2 and 3 only
C.
1 and 2 only
D.
2, 3 and 4 only
Answer: Option A
Solution
Answer: Option A
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