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Business Data Management · End Term · 30 Apr 2023 · January 2023 term · Set QPD1-S1

Question 9: If the price of a product increases by 10% and the quanti…

Question 9

+3 marksOne correct option

If the price of a product increases by 10% and the quantity demanded decreases by 20%, what is the price elasticity of demand?

  1. A

    2

  2. B

    0.5

  3. C

    1

  4. D

    1.5

Show answer

Correct answer

  • A

    2

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Question 9 of 18 in the IIT Madras BS Business Data Management (BDM) End Term paper sat on 30 Apr 2023, in the January 2023 term (IIT M DIPLOMA ET1 EXAM QPD1 S2 30 Apr 2023). It carries 3 marks.

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