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Business Data Management · Quiz 1 · 26 Feb 2023 · January 2023 term

Question 5: Select the correct answer for Blank (1)

Question 5

+1 markOne correct option

The elasticity of demand for a commodity is estimated to be -2.5; then, an increase in price from INR 8 to INR 10 would ____(1)____ the demand by ____(2)___ % (round the answer to the second part by 1 decimal point)
Based on the above data, answer the given subquestions.

Select the correct answer for Blank (1)

  1. A

    Increase

  2. B

    Decrease

Show answer

Correct answer

  • B

    Decrease

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Question 5 of 10 in the IIT Madras BS Business Data Management (BDM) Quiz 1 paper sat on 26 Feb 2023, in the January 2023 term (IIT M DIPLOMA AN2 EXAM QPD2 26 Feb 2023). It carries 1 mark.

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