Question

Suppose price of a commodity falls and its demand increases so much that elasticity is estimated to be 1.25. Suppose price increases back to its old level. The price elasticity will be –
(a) the same
(b) less than 1.25
(c) higher than 1.25
(d) less than 1.0

Answer 1

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(b) less than 1.25 ✔️

Answer 2

Answer:

less than 1.25.............