Question
The elasticity of demand for productAis 1.4, and for product is 0.8. If the price ofAdecreases by 1%, the quantity demand should Select one: a.decrease
The elasticity of demand for productAis 1.4, and for product
is 0.8. If the price ofAdecreases by 1%, the quantity demand should
Select one:
a.decrease by 1/1.4 = 0.71%.
b.increase by 140%.
c.increase by 1.4%.
d.decrease by 1.4%.
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A Textbook Of Mathematical Economics
Authors: Dr Chandrakant Singh
1st Edition
9353140986, 9789353140984
