Q. Find arc elasticity of demand, if quantity demanded falls from 4600 to 4200 when price of the item is increased from Rs 960 to Rs 1000?
A) -2.09
B) -2.23
C) 2.09
D) 2.23
✔ Correct Answer: -2.23
Exam Insight
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A) -2.09
B) -2.23
C) 2.09
D) 2.23
✔ Correct Answer: -2.23
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