Which of the following statement is not true while determining price elasticity of demand?
CA Foundation · Business Economics · PYQS · May 2025
Which of the following statement is not true while determining price elasticity of demand?
Suggested Answer and Working Notes:
Correct Answer: Option (B)
B. The greater the proportion of income spent on a commodity; generally the lesser will be its elasticity of demand.
Topics: Theory of Demand and Supply
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