1.

A consumer spends Rs. 60 on a good priced at Rs. 1 per unit. When the price rises by 100 per cent, he continues to spend Rs. 60 on the good. Calculate the price elasticity of demand by percentage method.

Answer»

A consumer spends Rs. 60 on a good priced at Rs. 1 per unit. When the price rises by 100 per cent, he continues to spend Rs. 60 on the good. Calculate the price elasticity of demand by percentage method.



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