All of these are basic determinants of a product's price elasticity of demand EXCEPT the
A) availability of complementary products.
B) availability of substitute products.
C) percentage of income spent on the product.
D) time period being examined.

Question

Quizplus · Accepted Answer

The availability of complementary products does not directly affect a product's price elasticity of demand. Price elasticity of demand is primarily influenced by factors such as the availability of substitute products, the percentage of income spent on the product, and the time period being examined, which affect how consumers respond to price changes.

All of These Are Basic Determinants of a Product's Price