1.

A consumer buys 10 units of a good at a price of Rs. 6 per unit. Price elasticity of demand is (−)1. At what price will he buy 12 units? Use expenditure approach of price elasticity of demand to answer this question.

Answer»

A consumer buys 10 units of a good at a price of Rs. 6 per unit. Price elasticity of demand is ()1. At what price will he buy 12 units? Use expenditure approach of price elasticity of demand to answer this question.



Discussion

No Comment Found

Related InterviewSolutions