UPSC CAPF AC 2021 Paper
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Question : 32 of 125
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How is the magnitude of price elasticity for an individual good determined?
1. By the degree to which the good is a necessity orluxury.
2. By the extent to which substitutes are available.
3. By the rate of income growth in the economy.
4. By the relative importance of the good in the consumer's budget.
Select the correct answer using the codes given below.
1. By the degree to which the good is a necessity orluxury.
2. By the extent to which substitutes are available.
3. By the rate of income growth in the economy.
4. By the relative importance of the good in the consumer's budget.
Select the correct answer using the codes given below.
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