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Find the odd word out.1. Types of price elasticity of demand: Perfectly elastic demand, Perfectly inelastic demand, Relatively inelastic demand, Cross elasticity of demand.2. Types of elasticity of demand: Total outlay, Cross elasticity, Income elasticity, Price elasticity.3. Methods of measuring price elasticity of demand: Ratio method, Geometric method, Total outlay method, Unitary elastic demand.4. Types of Income Elasticity of demand: Positive, Negative, Cross, Zero 5. Examples of Substitute Goods: Coca-cola, Pepsi, Thumsup, Fanta6. Examples of Complementary Goods: Tea – Sugar, Car – Petrol, Tea – Coffee |
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Answer» 1. Cross elasticity of demand 2. Total outlay 3. Unitary elastic demand 4. Cross 5. Fanta 6. Tea – Coffee |
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