English

If the demand for a good is made by a rich consumer, its demand is generally __________.

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Question

If the demand for a good is made by a rich consumer, its demand is generally __________.

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Solution

If the demand for a good is made by a rich consumer, its demand is generally inelastic.

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Chapter 4: Elasticity of Demand - OBJECTIVE QUESTIONS [Page 4.35]

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Sandeep Garg Introductory Microeconomics [English] Class 11
Chapter 4 Elasticity of Demand
OBJECTIVE QUESTIONS | Q 8. | Page 4.35
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