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What are four factors that are relevant to the determination of price elasticity of demand?

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Is it quantity and price? I'm confused by this question...

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  1. 1.  Neccessities versus luxuries.

    2.  Availability of close substitutes.

    3.  Definition of the market.

    4.  Time horizon.

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    Price elasticity of demand =   Percentage change in quantity demanded divided by Percentage change in price.

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