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Question
As a result of a 10% fall in price of good X its demand also increases by 10%. The price elasticity of demand for the commodity will be ______.
Options
Ed > 1
Ed = 1
Ed < 1
Ed = 0
MCQ
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Solution
As a result of a 10% fall in price of good X its demand also increases by 10%. The price elasticity of demand for the commodity will be Ed = 1.
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