Which of the following factors directly affect the elasticity of demand?
A) the other uses of a product
B) the inputs needed to manufacture the product
C) the unavailability of substitute goods
D) a product's warranty

Question

Quizplus · Accepted Answer

Elasticity of demand is influenced by the availability of substitutes and the various uses of a product, as these factors determine how consumers can respond to price changes.

Which of the Following Factors Directly Affect the Elasticity of Demand