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प्रश्न
Identify and explain the concept from the given illustration:
A fall in the price of medicines by 30% resulted in no rise in demand for it.
टिप्पणी लिखिए
उत्तर
- Identified concept: Perfectly inelastic demand.
- Explanation of concept: A demand for a good is said to be fully inelastic when a proportionate change in its price results in no (zero) proportionate change in the quantity required of the good.
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