1.

Price elasticity of demand of a good is (-) 2. The consumer buys a certain quantity of this good at a price of Rs. 8 per unit. When the price falls, he buys 50% more quantity. What is the new price?

Answer»

Price elasticity of demand of a good is (-) 2. The consumer buys a certain quantity of this good at a price of Rs. 8 per unit. When the price falls, he buys 50% more quantity. What is the new price?



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