A discount store has a special offer on CDs. It reduces their price fr – InterviewSolution

InterviewSolution

1.	A discount store has a special offer on CDs. It reduces their price from Rs. 150 to Rs. 100. Suppose the store manager observes that the quantity demanded increases from 700 CDs to 1,300 CDs. What is the price elasticity of demand for CDs? (a) 0.8 (b) 1.0 (c) 1.25 (d) 1.50
Answer» Correct answer is (d) 1.50

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