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Business Analytics · Quiz 1 · 23 Feb 2025 · January 2025 term

Question 14: What is the satiating price for the Milk’s demand respon…

Question 14

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(The following comprehension is purely imaginary)
A local grosser has observed that the demand for Milk follows a linear demand response curve. Hence, he has decided to raise the “Milk” price by Rs. 5 rupees per litre to Rs. 45 per litre. If the demand was 300 litres per day before the rise and is now 100 litres per day after the rise, then answer the given subquestions.

What is the satiating price for the Milk’s demand response curve? (Note: give only a numerical value rounded to 2 decimal places. For example, if your answer is 10.1253, then input the answer as “10.13”)

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Correct answer: 47.5

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Question 14 of 18 in the IIT Madras BS Business Analytics (Business Analytics) Quiz 1 paper sat on 23 Feb 2025, in the January 2025 term (IIT M DIPLOMA AN EXAM QDD2 23 Feb 2025). It carries 1 mark.

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