Question

(B) Assertion and Reasoning - Choose the correct answer from the following:
1.
Assertion (A): Prof. Alfred Marshall explained the concept of elasticity of demand.
Reasoning (R): The law of demand failed to explain quantitative relationship between demand and price.
a. (A) is True but (R) is False.
b. (A) is False but (R) is True.
C. Both (A) and (R) are True and (R) is the correct explanation of (A).
d. Both (A) and (R) are True but (R) is not the correct explanation of (A).​

Answer 1

Answer:

b is correct answer

Explanation:

law of demand failed to explain how much qunanity increased or decreased due to decrease or increase in price. elasticity of demand explained this