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Economics
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Economics
The price decrease from Rs 2,000 to Rs 1,800 Quantity demanded per year increases 5000 to 6000 units. Which of the following is correct ?
The price elasticity of demand is -2
Correct answer
B
The good is inferior
Option B
C
Income elasticity is + 0.5
Option C
D
Income elasticity is + 2
Option D
Correct answer: A
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