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Question
State whether the following statement is true or false.
Perfectly inelastic demand curve is parallel to ‘X’ axis.
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Solution
Perfectly inelastic demand curve is parallel to ‘X’ axis. False.
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Demand for perishable goods is inelastic.
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When the price of petrol goes up, demand of cars will ___________.
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Market demand is an aggregate of purchasing by _________ buyers.
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State whether the following statement is TRUE and FALSE
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Derived demand
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