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Today General Knowledge(GK)
Decrease or fall in the price of commodity leads to increase in demand because of
A)
Income effect i.e. Consumer becomes better off
B)
Substitution effect i.e. Relatively cheaper than related goods
C)
Both (a) and (b)
D)
None of the above

Correct Answer : Option (C) - Both (a) and (b)


Published On : May 21, 2021
Category : Business and Economics
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