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This question belongs to Management Managerial Economics

Managerial Economics

?

The price of a commodity is Rs. 20 and the quantity demanded at this price is 200 units. If the price falls to Rs. 16 and the quantity demanded increases to 280 units, calculate the price (arc) elasticity

A) 1.6 B) 1.5 C) 1.9 D) 1.3

Answer & Solution

Correct Answer: Option B

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Question posted by Examveda

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