New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Find the incorrect option regarding the elasticity of

    commodities?
    A Demand for salt is perfectly elastic Correct Answer Incorrect Answer
    B If price of Colgate increases, demand for closeup increases Correct Answer Incorrect Answer
    C Elasticity measures the percentage change in quantity demanded for a percentage change in price Correct Answer Incorrect Answer
    D All of these Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Salt is a necessity so demand for salt is inelastic

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