Economy, asked by dhruwteman, 15 hours ago

When commodity price increase 10% then demand will be decrease 5% then that commodity will be - (A) General goods (B) Compulsory goods (C) Luxury goods (D) All of the above

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Answered by anokhikeshari

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a fall in price will lower the quantity demanded. d) a rise in ... Suppose we know that the price elasticity of demand of good X is equal to -1.2. Then ...

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When commodity price increase 10% then demand will be decrease 5% then that commodity will be - (A) General goods (B) Compulsory goods (C) Luxury goods (D) All of the above​

Answers

When commodity price increase 10% then demand will be decrease 5% then that commodity will be - (A) General goods (B) Compulsory goods (C) Luxury goods (D) All of the above