Mukesh kumar nayak Asked a Question
May 13, 2021 10:20 pmpts 30 pts
3. Suppose the price elasticity of demand for good X is 0.2. If the price of X rises by 2.8% what effect will it have on the total expenditure on good X? (a) Expenditure on X will fall by 5.6%. (b) Expenditure on X will rise by 5.6%. (c) Expenditure on X will rise by 2.2%. (d) Expenditure on X will fall by 2.2%. (2011)
  • 1 Answer(s)
  • 0 Likes
  • 2 Comments
  • Shares
  • Mukesh kumar nayak
    Thank you
    Likes(1) Reply(0)
  • Reshma gupta thankyou
    price elasticity of a good= %change in demand/%change in price price elasticity is 0.2 which is positive so it means that good x have elastic nature.if price would rises by 2.8%,i...
    Show more
    Likes(1) Reply(0)
Head Office :
MPA 44, 2nd floor, Rangbari Main Road,
Mahaveer Nagar II, Kota (Raj.) – 324005

Corporate Office:
212, F-1, 2nd Floor, Evershine Tower,
Amrapali Marg,
Vaishali Nagar, Jaipur (Raj.) – 302021

Mail: info@eduncle.com
All Rights Reserved © Eduncle.com