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Business Analytics · Quiz 2 · 6 Aug 2023 · May 2023 term

Question 7: Say a demand response curve is modelled as a constant ela…

Question 7

+2 marksNumerical answer

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 7 of 19 in the IIT Madras BS Business Analytics (Business Analytics) Quiz 2 paper sat on 6 Aug 2023, in the May 2023 term (IIT M DIPLOMA AN2 EXAM QPD2 06 Aug 2023). It carries 2 marks.

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