For the following statement of Assertion (A) and Reasoning (R) select the correct answer:
Assertion (A): Price reduction normally leads to an increase in the demand for a commodity.
Reason (R): Price reduction leads to the entry of new buyers of the commodity in the market.

A) (A) is correct but (R) is not correct B) (A) is not correct but (R) is correct C) Both (A) and (R) are correct and offers a full explanation of (A) D) Both (A) and (R) are correct but (R) does not offer a full explanation of (A)

Answer & Solution

Correct Answer: Option D

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For the following statement of Assertion (A) and Reasoning (R) select...

For the following statement of Assertion (A) and Reasoning (R) select the correct answer: Assertion (A): Price reduction normally leads to an increase in the demand for a commodity. Reason (R): Price reduction leads to the entry of new buyers of the commodity in the market.

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Related Questions on Economics

For the following statement of Assertion (A) and Reasoning (R) select the correct answer:
Assertion (A): Price reduction normally leads to an increase in the demand for a commodity.
Reason (R): Price reduction leads to the entry of new buyers of the commodity in the market.