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Answer to Question #219725 in Macroeconomics for Kashmiri
Question #219725
Evaluate Eskoms product in term of the following factors which determine price elasticity of demand: availability of close substituteTimeNature of product
Expert's answer
(a) Eskom does not deliver consistent, reliable electricity free of variations.
(b) Eskom products are coal-fired electrical generators that are widely used in South Africa.
(c) Alternative energy sources such as gas and oil can be employed.
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