Q. Find arc elasticity of demand, if quantity demanded falls from 1000 to 950 when price of the item is increased from Rs. 240 to Rs. 280?
A) 0.3
B) 0.33
C) -0.33
D) -0.3
✔ Correct Answer: -0.33
Exam Insight
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A) 0.3
B) 0.33
C) -0.33
D) -0.3
✔ Correct Answer: -0.33
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