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MICROECONOMICS CH : 6 PRICE ELASTICITY OF DEMAND — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 6 PRICE ELASTICITY OF DEMAND1 Mark
Question
Complementary goods often exhibit low elasticity of demand.
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Answer

True. Complementary goods often exhibit low elasticity of demand. Because, increase or decrease in the demand for Good-1 causes a simultaneous increase or decrease in the demand for Good-2 even when price of Good-2 has not changed.

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