Solved UPSC CDS/OTA Question
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Q · Demand and SupplyMedium · 45s
If the price of a commodity increases by 20% and its demand falls by 10%, then the demand is:
TopicDemand and Supply
Question Typemultiple choice
DifficultyMedium
Marking+1 / −0.33
Test Duration30 min
Step-by-Step Solution
The complete worked solution.
Every step explained — no skipped algebra.
% change in demand < % change in price → inelastic demand.
Final Answer: Option B — Inelastic