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Question
The price of a commodity goes up from ₹ 26 to ₹ 30 as a result of which demand falls from 4 units to 2 units, the price elasticity of demand is ______.
Options
2.25
3.25
3.50
3.75
MCQ
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Solution
The price of a commodity goes up from ₹ 26 to ₹ 30 as a result of which demand falls from 4 units to 2 units, the price elasticity of demand is 3.25.
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