1.

If marginal revenue is 20 and elasticity of demand is 5/2, then average is​

Answer»

Given :- If MARGINAL revenue is 20 and elasticity of DEMAND is 5/2 .

To Find :-

  • Average = ?

ANSWER :-

we know that,

  • Average = Marginal revenue * [ elasticity of demand / (elasticity of demand - 1)]

putting VALUES we get,

→ Average = 20 * [(5/2) / (5/2 - 1)]

→ Average = 20 * [(5/2) / (3/2)]

→ Average = 20 * [(5/2) * (2/3]

→ Average = 20 * (5/3)

→ Average = (100/3)

→ Average = 33.34 (Ans.)

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The cost of sunflower oil is increased by 30 % due to which consumption is decreased by 20%. Percentage

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