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Consider the demand for a good. At price Rs. 4, the demand for the good is 25 units. Suppose price of good increases to Rs. 5 and as a result, the demand for the goods falls to 20 units. Calculate the price elasticity. |
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Answer» Consider the demand for a good. At price Rs. 4, the demand for the good is 25 units. Suppose price of good increases to Rs. 5 and as a result, the demand for the goods falls to 20 units. Calculate the price elasticity. |
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