Assertion (A) : Elasticity of demand explains that one variable is influenced by another variable.Reasoning (R) : The concept of elasticity of demand indicates the effect of price and changes in other factors on demand.Options :(1) (A) is True, but (R) is False (2) (A) is False, but (R) is True (3) Both (A) and (R) are True and (R) is the correct explanation of (A) (4) Both (A) and (R) are True and (R) is not the correct explanation of (A)

Assertion (A) : Elasticity of demand explains that one variable is inf

1.	Assertion (A) : Elasticity of demand explains that one variable is influenced by another variable.Reasoning (R) : The concept of elasticity of demand indicates the effect of price and changes in other factors on demand.Options :(1) (A) is True, but (R) is False (2) (A) is False, but (R) is True (3) Both (A) and (R) are True and (R) is the correct explanation of (A) (4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Answer» Option : (3) Both (A) and (R) are True and (R) is the correct explanation of (A).