Assertion A The elastic demand curve for luxuries is flatter than normal Reason Reason R T...........

Economics (CUET) Consumer Behaviour and Demand

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Assertion (A): The elastic demand curve for luxuries is flatter than normal. Reason

Reason (R): The coefficient of Elasticity ranges between 0 and 1.

Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A)

Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A)

Assertion (A) is true, but Reason (R) is false

Assertion (A) is false, but Reason (R) is true

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Explanation:

Explanation: The elastic demand curve for luxuries is flatter than normal because the coefficient of elasticity is always greater than one.
Hence, the reason is wrong as it says, the coefficient of elasticity ranges between 0 and 1. The assertion is correct