Which of the following statements is correct?
(a) With the help of statistical tools, the demand can be forecasted with perfect accuracy
(b) The more the number of substitutes of a commodity, the more elastic is the demand.
(c) Demand for butter is perfectly elastic.
(d) Gold jewellery will have negative income elasticity.
Answers
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Explanation:
(c) Demand for butter is perfectly elastic.
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Answer:
answer is demand for butter is perfectly elastic
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