English

When percentage change in the quantity demanded is more than percentage change in price, then demand for such a commodity is said to be __________.

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Question

When percentage change in the quantity demanded is more than percentage change in price, then demand for such a commodity is said to be __________.

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Solution

When percentage change in the quantity demanded is more than percentage change in price, then demand for such a commodity is said to be highly elastic.

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Chapter 4: Elasticity of Demand - OBJECTIVE QUESTIONS [Page 4.34]

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Sandeep Garg Introductory Microeconomics [English] Class 11
Chapter 4 Elasticity of Demand
OBJECTIVE QUESTIONS | Q 1. | Page 4.34
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