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Competition among sellers start correct demand concept; law of demand inverse price-quantity relation elasticity.
Ref: NCERT Economics Class XI Chapter 2 Consumer Behaviour explains demand law elasticity utility indifference curve consumer equilibrium clearly.
Both Assertion (A) and Reason reflects business environment; external forces affect operations significantly.
Ref: NCERT Business Studies Class XII Chapter 3 Business Environment discusses dimensions importance external forces affecting business operations effectively.
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