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Business Analytics · Quiz 2 · 4 Aug 2024 · May 2024 term

Question 9: What is the intercept for the curve? (Note: Enter the ans…

Question 9

+1 markNumerical answer

A demand response curve has a constant elasticity of +0.4. If the price of the product is 100 and the corresponding demand is 200, then answer the given subquestions.

What is the intercept for the curve? (Note: Enter the answer rounded to two decimal places. For example, if the answer is “1.234”, then enter it as “1.23”)

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Correct answer: 1261.5 (accepted within ±0.5)

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Question 9 of 22 in the IIT Madras BS Business Analytics (Business Analytics) Quiz 2 paper sat on 4 Aug 2024, in the May 2024 term (IIT M DIPLOMA AN EXAM QDD2 4 Aug 2024). It carries 1 mark.

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