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Question
When the percentage change in demand of a commodity is greater than the percentage change in its price, the demand for the commodity is ______.
Options
Ed = 1
Ed > 1
Ed = 0
Ed < 1
MCQ
Fill in the Blanks
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Solution
When the percentage change in demand of a commodity is greater than the percentage change in its price, the demand for the commodity is Ed > 1.
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