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      Question

      The total outlay on commodity remains constant, even

      when there is a change in price,┬а this occurs in case of:
      A Unit elasticity Correct Answer Incorrect Answer
      B Perfect elasticity Correct Answer Incorrect Answer
      C Inelastic Correct Answer Incorrect Answer
      D Relatively elastic Correct Answer Incorrect Answer

      Solution

      If a price change for a product doesn't lead to much, if any, change in its supply or demand, it is considered inelastic.┬а

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