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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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| (2) | Decrease in demand | (b) | Perfectly Elastic Demand |
| (3) | Ed = ∞ | (c) | Increases in the income of the consumer |
| (4) | Downward Sloping | (d) | Income elasticity of Demand |
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