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Business Analytics · End Term · 3 Apr 2022 · January 2022 term

Question 7: The price of an envelop was Rs. 3/ piece yesterday and Ad…

Question 7

+4 marksNumerical answer

The price of an envelop was Rs. 3/ piece yesterday and Aditya bought 10 envelopes. Today, the price is Rs. 3.75/ piece and Aditya is willing to buy only 8 envelopes. What is the elasticity of Aditya’s demand?
NOTE: Enter your answer in one decimal place.

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Correct answer: 0.8

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Question 7 of 33 in the IIT Madras BS Business Analytics (Business Analytics) End Term paper sat on 3 Apr 2022, in the January 2022 term (IIT M FOUNDATION DIPLOMA ENDTERM AN1 3 Apr 2022). It carries 4 marks.

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