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Elasticity of Demand — Economics STD 10 — Question

ICSE BoardEnglish MediumSTD 10EconomicsElasticity of Demand2 Marks
Question
Study the table given below and state whether demand is elastic or inelastic. Give reasons for your answer.

Price in ₹Total outlay ₹
525
318

✓

Answer

 Inelastic, total outlay falls as price decreases.

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