The price of a commodity rises by 5%, its quantity demanded falls by 10%; it implies that a 10% fall in the price of the commodity will result in ______
CS CSEET · Business Economics & Fundamentals of Accounting and Auditing · PYQS · June 2013
The price of a commodity rises by 5%, its quantity demanded falls by 10%; it implies that a 10% fall in the price of the commodity will result in ______
Answer & Explanation:
Correct Answer: Option (C)
Correct answer: (C) 20% rise in quantity demanded.
Topics: Business Economics
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