Answer:
One factor that does not determine the price elasticity of demand is prices of related complementary.
Explanation:
A) Time needed to adjust to price changes does determine the price of elasticity of demand. For example, when a company states they will increase the price of gas next year, more people will buy gas today.
B) Relative need and relative cost do determine the price of elasticity of demand. For example, is the good is a luxury or a necessity?
C) Availability of substitute does determine the price of elasticity of demand. For example, inelastic demand curve is very steep and have very few substitutes, while elastic demand curve is very flat and has a lot of substitutes.
D) prices of related complementary determines the cross-price elasticity of demand. For example, when the price of Product B increases, the demand for Product A should decrease. This is not the same as price elasticity of demand.
The price of related complements is a factor that determine the price elasticity of demand.
A price elasticity of demand refers to an economic tools that assess the change in consumption of goods in relation to the change in its price.
Some factor used in determining the price elasticity of demand includes:
Hence, the price of related complements is a factor that determine the price elasticity of demand.
Therefore, the Option D is correct.
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