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The sales of a good for the current year reduced to 60,000 units from 80,000 units during the last year. During the current year, the
The sales of a good for the current year reduced to 60,000 units from 80,000 units during the last year. During the current year, the price of the good has been increased by 30 percent from Rs.10. The demand for the good is unitary elastic and cross elasticity of demand is estimated to be 5. During the same period, income level in the economy increased by one percent, while the price of the substitute good increased by 2 percent.
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