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Which of the following is not a factor affecting elasticity? A. availability of substitutes B. the goods relative importance C. whether the food is a necessity or a luxury D. the goods price range

Rodney Fox

in Business

1 answer

1 answer

Daniel King on August 19, 2018

I think the answer is: D. the products of the price range of the option a is incorrect because, As a product has less availability , consumers do not have another option at the hand of that product, that make him become less elastic.- Option B is incorrect because the goods of relative importance tend to be irreplacable, regardless of their change in price, which make these goods inelastic - Option C is incorrect because the need for the property tend to make the products become more inelastic, because our life would be in danger if we don't consume.

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