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Question
When the price of the commodity has changed the demand for the commodity changes in ______
Options
Opposite direction
Remains the same
Same direction
None of these
MCQ
Fill in the Blanks
Solution
When the price of the commodity has changed the demand for the commodity changes in the Opposite direction.
Explanation:
Because demand is inversely related to commodity price, when the price rises, demand falls, and vice versa.
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