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Business Analytics · Quiz 1 · 25 Feb 2024 · January 2024 term

Question 5: What is the elasticity of this curve when the price is Rs…

Question 5

+1 markNumerical answer

The linear demand response for a product–X is modelled as a simple linear regression represented as D(P) = 5000 – 20*P, where D(P) is the demand at price-P. Then, answer the given subquestions.

What is the elasticity of this curve when the price is Rs.100?
(Note: Enter the answer rounded to two decimal places. For example, if the answer is “1.234”, then enter it as“1.23” .DO NOT ENTER PERCENTAGE VALUES)

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Correct answer: 0.66 (accepted within ±0.01)

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Question 5 of 20 in the IIT Madras BS Business Analytics (Business Analytics) Quiz 1 paper sat on 25 Feb 2024, in the January 2024 term (IIT M DIPLOMA AN2 EXAM QDD2 25 Feb 2024). It carries 1 mark.

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