1. Which commodity can be called as Giffen commodity ?(A) Inferior commodity(B) Superior commodity(C) Any of above(D) None of the aboveAns : (A) 2. The price of a commodity is determined where—(A) Demand supply(B) Demand supply(C) Demand = supply(D) None of the aboveAns : (C) 3. In perfect competition, the demand for a commodity is—(A) Elastic (B) Perfectly elastic(C) Inelastic (D) Perfectly