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प्रश्न
Identify and explain the concept from the given illustration:
Demand for perfumes increased by 10% when its price decreased by 30%.
टीपा लिहा
उत्तर
- Identified concept: Relatively inelastic demand.
- Explanation of concept: When a proportionate change in a commodity's price results in a less-than-proportionate change in its quantity sought, the demand is said to be relatively inelastic.
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