Question
A determinant of the price elasticity of demand is
• the availability of resources used in the production of the product.
whether the good is a durable or a nondurable.
• the proportion of the consumer's total budget spent on the good.
• how well consumers like the good.
Answer
The proportion of the consumer's total budget spent on the good, how well consumers like the good, and whether the good is a durable or a nondurable.