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Business Analytics · End Term · 24 Dec 2023 · September 2023 term · Set FDD1

Question 34: What is the elasticity of the linear demand-response cur…

Question 34

+2 marksNumerical answer

The demand for candy at different prices in the supermarket is specified in the table below. Given this data, answer the given sub-questions (Note: For all the sub-questions, round your answer to two decimal places. Eg: If your answer is 10.256, then round it to 10.26).

PriceCandy Demand
40500
60450
80400
100350
120300
140250

What is the elasticity of the linear demand-response curve, when the price is Rs. 140?

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Correct answer: 1.4

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Question 34 of 34 in the IIT Madras BS Business Analytics (Business Analytics) End Term paper sat on 24 Dec 2023, in the September 2023 term (IIT M FOUNDATION FN EXAM FDF1 24 Dec 2023). It carries 2 marks.

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