InterviewSolution
Saved Bookmarks
| 1. |
Suppose a shop has a sale on its silverware. If the price of a silver earrings is reduced from Rs. 300 to Rs. 200 and the quantity demanded increases from 3,000 earrings to 5,000 earrings, what is the price elasticity of demand for silverware? (a) 0.8 (b) 1.0 (c) 1.25 (d) 1.50 |
|
Answer» Correct answer is (c) 1.25 |
|