CA CPT Dec 2018 Question Paper General Economics for online practice

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Question : 7 of 49

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Which of the following is correct?

If total outlay decreases as price increases and rises when price falls then $e_p < 1$
If total outlay remains constant as price increases or decreases then $e_p = 1$
If total outlay increases with rise in price and falls when fall in price then $e_p > 1$
All of the above

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