Solved UPSC CDS/OTA Question
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Q · Law of ElasticityMedium · 45s
Statement: Which commodity will have the most inelastic demand?
TopicLaw of Elasticity
Question Typemultiple choice
DifficultyMedium
Marking+1 / −0.33
Test Duration30 min
Step-by-Step Solution
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Addictive goods like cigarettes tend to have very inelastic demand.
Final Answer: Option C — Cigarettes