Question 12
The decrease in price of a product from INR 10 to INR 8 raised the demand by 30%. What is the elasticity of demand for the product?
Question 12: The decrease in price of a product from INR 10 to INR 8 …
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Correct answer: 1.5
Question 12 of 26 in the IIT Madras BS Business Data Management (BDM) End Term paper sat on 11 Dec 2022, in the September 2022 term (IIT M DIPLOMA AN1 EXAM ETD1 11 Dec 2022). It carries 2 marks.
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