Economics · Theory of Demand
What is the economic term used to describe an increase in quantity demanded caused solely by a decrease in the price of a commodity?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Cross Elasticity of Demand
- 2Shift in Demand
- 3Extension of Demand✓
- 4Contraction of Demand
Correct answer
Extension of Demand
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