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प्रश्न
Identify and explain the concepts from the given illustrations:
Price of salt increases by ₹ 20 to ₹ 50, still there is no change in demand for salt.
स्पष्ट करा
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उत्तर
Identified concept: Perfectly inelastic demand.
Explanation of concept: When a change in the price of a product leads to no change in the quantity demanded, the demand is called perfectly inelastic. In this case, the elasticity of demand has a numerical value of zero.
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