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Business Analytics · Quiz 2 · 1 Dec 2024 · September 2024 term

Question 4: Say a demand response curve is modelled as a constant ela…

Question 4

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Say a demand response curve is modelled as a constant elasticity curve. If Q1 is 2400 units, Q2 is 1500 units, P1 is Rs. 100 and P2 is Rs. 200, then what is the elasticity of the curve? (Note: If your answer is in decimal, enter it rounded to two decimal places. For example, if your answer is “10.256”, enter it as “10.26”)

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Correct answer: 0.675 (accepted within ±0.025)

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Question 4 of 20 in the IIT Madras BS Business Analytics (Business Analytics) Quiz 2 paper sat on 1 Dec 2024, in the September 2024 term (IIT M DIPLOMA AN EXAM QDD2 01 Dec 2024). It carries 1 mark.

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