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प्रश्न
True or False with Reason:
Price Elasticity of Demand is same for the two commodities x and y if slope of their demand curves are same.
सत्य या असत्य
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उत्तर
This statement is false.
Explanation:
- Price elasticity = (1 ÷ slope) × P/Q.
- Even if slopes are the same, elasticity also depends on initial price and initial quantity.
- Therefore, two demand curves with the same slope may have different elasticities at different points.
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