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1. Which of the following is not a determinant of the price elasticity of demand?
The time frame-whether it is in the short run or long run.
The number of substitute goods available.
The share of a consumer's budget.
The amount of income the consumer has.
2. Most goods can yield
Both positive and negative marginal utility.
Only negative marginal utility.
Only positive marginal utility.
Only zero marginal utility.
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