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प्रश्न
Demand for a good is less elastic when ______.
विकल्प
Percentage change in price (>) Percentage change in quantity demanded
Percentage change in quantity demanded > Percentage change in price
Percentage change in price = Percentage change in quantity demanded
Demand remains same even with change in price
MCQ
रिक्त स्थान भरें
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उत्तर
Demand for a good is less elastic when Percentage change in price (>) Percentage change in quantity demanded.
Explanation:
Demand is less elastic when the percentage change in quantity demanded is smaller than the percentage change in price. The second describes elastic demand, the third unitary elasticity, and the fourth perfectly inelastic demand.
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