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Identify the factor which generally keeps the price-elasticity of demand for a commodity now

Identify the factor which generally keeps the price-elasticity of demand for a commodity now

Q. Identify the factor which generally keeps the price-elasticity of demand for a commodity now:

A.           Variety of uses for that commodity              

B.            Its low price

C.            Close substitutes for that commodity         

D.           High proportion of the consumer’s income spent on it

Answer: Its low price

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