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Complete the Correlation.(1) Demand for pins : Inelastic :: Demand for perfume : ………(2) Demand for specialised labour : ………. :: Demand for luxury goods : Relatively Elastic(3) The demand for durable goods : ………………. :: Demand for perishable goods : inelastic (4) Normal goods the income elasticity of demand is : Positive :: Complementary goods the cross elasticity of demand is : ………………. (5) After devaluation exports become : ………………. :: Devaluation succeeds when exports have elastic demand (6) Demand for luxury goods : Elastic :: Demand for food grain : ………………. (7) Rectangular hyperbola curve : Ed = 1 :: Steeper demand curve : ………………. (8) Total outlay remains same : Ed = 1 :: Total outlay increases : ………………. (9) Total outlay decreases : Ed < 1:: Total outlay remains same : ……… |
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Answer» 1. Elastic 2. Inelastic 3. Relatively elastic 4. Negative 5. Cheaper 6. inelastic 7. Ed < 1 8. Ed > 1 9. Ed = 1 |
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