If the price of goods rises by 60% but supply increases by only 5%, the supply of goods will be

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Rajeev Malhotra

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Q. If the price of goods rises by 60% but supply increases by only 5%, the supply of goods will be

(A) Highly Elastic
(B) Elastic
(C) Inelastic
(D) Perfectly Inelastic

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✅ Correct Answer: (C) Inelastic

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