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Choose a product you have purchased in the past month from

There are 4 factors that influence the price elasticity of demand:

The availability of substitutes
The specific nature of the good
The part of income spent on the good
The time consumers have to buy the good

discuss the following:

Choose a product you have purchased in the past month from a clothing or shoe store.
Describe how each of the 4 factors contributed to the elasticity of the good.
Is the product considered elastic, inelastic, or unitary elastic?
In a few sentences, what effect does the current supply and current demand have on this product?

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Econometrics: Choose a product you have purchased in the past month from

Reference No:- TGS0584295

Have a Question? (oR Write a Review)

Recent Questions Asked Econometrics

Q : The united states braziland argentina are land rich and

Q : A given mass of air occupies 900 ml at one atmosphere 760

Q : For the first time in two years big g the cereal division

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Q : Choose a product you have purchased in the past month from

Q : The potential difference between two points in a wire 10 m

Q : Revenue at a major cellular telephone manufacturer was 14

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Econometrics: Choose a product you have purchased in the past month from

Reference No:- TGS0584295

Recent Questions Asked Econometrics

Q : The united states braziland argentina are land rich and

Q : A given mass of air occupies 900 ml at one atmosphere 760

Q : For the first time in two years big g the cereal division

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Q : The potential difference between two points in a wire 10 m

Q : Revenue at a major cellular telephone manufacturer was 14

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