Defend or refute the statement. Write ‘yes’ or ‘no’ with reaso – InterviewSolution

1.	Defend or refute the statement. Write ‘yes’ or ‘no’ with reason:Higher the price level, higher should be the elasticity of demand.
Answer» Yes. Elasticity of demand will be high at higher level of price of the commodity. Because corresponding to higher level of P_X, the ratio (lower segment/upper segment) tends to be high.

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