Q. If price of an article decreases from Rs P1 to Rs 75, quantity demanded increases from 1000 units to 1200 units. If point elasticity of demand is 3.2 findmP1?
A) Rs 80
B) Rs 85
C) Rs 95
D) Rs 100
✔ Correct Answer: Rs 80
Exam Insight
-
A) Rs 80
B) Rs 85
C) Rs 95
D) Rs 100
✔ Correct Answer: Rs 80
-
Explore educational articles, current affairs, science, technology, history, politics, business and hundreds of learning resources organized into categories.
Explore the most searched educational topics.
Explore Sarkari Jobs, Admit Cards & Results easily on TutorliV
Practice topic-wise MCQs for competitive exams like SSC, UPSC, Banking & more.