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Question
If there is no change in the demand for commodity X even when its price increases, the demand is said to be ______.
Options
perfectly elastic
highly elastic
less elastic
perfectly inelastic
MCQ
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Solution
If there is no change in the demand for commodity X even when its price increases, the demand is said to be perfectly inelastic.
Explanation:
If quantity demanded remains unchanged despite a price change, demand has zero elasticity. This is called perfectly inelastic demand.
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