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Question
Cross demand states the relationship between ______.
Options
Demand of given commodity and price of related goods
Demand of given commodity and Income of the consumer
Demand of given commodity and taste and preferences
None of these
MCQ
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Solution
Cross demand states the relationship between demand of given commodity and price of related goods.
Explanation:
Cross demand describes how demand for one commodity relates to the prices of related commodities, such as substitutes or complements. Income and preferences are different demand determinants.
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