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Factors determining elasticity of demand, Managerial Economics
Factors determining Elasticity of demand
Ease of substitution.
Nature of the commodity i.e. whether it is a necessity of life, luxury or addictive.
The number of uses to which the good can be put.
The prices of other products.
Advertisements especially the persuasive ones.
Whether the use for the good can be postponed.
Human and economic constraints.
Posted Date: 11/27/2012 6:35:22 AM | Location : United States
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