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The question is about a product that give us a reasonably good idea as to a product's demand elasticity. We call these the determinants of
The question is about a product that give us a reasonably good idea as to a product's demand elasticity. We call these the determinants of demand elasticity. In the following questions, you will select the determinant of demand elasticity that fits the description or scenario given. Which determinant is associated with the description given? Which determinant is associated with the description given? Which determinant is associated with the scenario given? Which determinant is associated with the scenario given? There is only one car wash in town a What is the time horizon? b Are there close substitutes? c Does it make up a large or small amount of my income? d How large is the market? e Is it a luxury or a necessity
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