What are the determinants of demand elasticity?

What are the for major determinants of the price elasticity of demand in terms of economics?

  • Answer:

    The determinants of the price elasticity of demand is the availability of substitute goods, percentage of income, necessity, duration, breadth of a definition of a good, brand loyalty, and who pays for the good.

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The determinants of the price elasticity of demand is the availability of substitute goods, percentage of income, necessity, duration, breadth of a definition of a good, brand loyalty, and who pays for the good. !

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