11. Which of the following might cause the own price elasticity of demand for product Z to go from .75 to 1.25.
  1. A decrease in the manufacturing cost of Z.
  2. The introduction of a new product that is considered a close substitute for Z.
  3. An improvement in the manufacturing technology for Z.
  4. More firms begin producing product Z.
  5. A change in consumer tastes that causes consumers to feel that consuming Z is an important enhancement to their image.

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