Examveda

Consider the following demand schedule
Price per unit (Rs.) Quantity demanded (000)
6 3
5 9
4 15
3 20
When price falls from Rs. 5 to Rs. 4, elasticity of demand can be expressed numerically as

A. 3.75

B. 2.5

C. 3.3

D. 1.0

Answer: Option C


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