Match the LIST-I with LIST-II
| LIST-I | LIST-II | ||
| A. | Price elasticity of demand | l. | Demand remains unchanged regardless of price changes |
| B. | Income elasticity of demand | ll. | Calculated as the percentage change in quantity demanded divided by percentage change in price |
| C. | Perfectly inelastic demand | lll. | A measure of how demand changes in response to change in consumer income |
| D. | Perfectly elastic demand | lV. | Demand drops to zero with even the slightest increase in price |
Choose the correct answer from the options given below:
1
A - I, B - II, C - III, D - IV
2
A - II, B - I, C - III, D - IV
3
A - II, B - III, C - I, D - IV
4
A - III, B - IV, C - I, D - II