The effect of an increase in price on the demand for a co...
The effect of an increase in price on the demand for a commodity with elastic demand will be
An increase in the demand for the commodity
A decrease in the demand for the commodity
A further increase in the price of the commodity
Reduction in the number of the distributors of the commodity
A general increase in the cost of the production
Correct answer is B
No explanation has been provided for this answer.
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