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13 December, 02:05

Which of the following is not a determinant of the price elasticity of demand for a good? a. the time horizon b. the steepness or flatness of the supply curve for the good c. the definition of the market for the good d. the availability of substitutes for the good

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  1. 13 December, 02:35
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    The correct option is B

    Explanation:

    Price elasticity of the demand is the measures of the responsiveness for the product whose quantity is demanded with the change or variation in the price.

    It is used in the business when decision in relation to the price of the product is taken and for rest of the marketing mix. So, the one which is not a determinant of the price elasticity of demand is flatness or steepness of the supply curve of the product or good.
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