Ayushi posted an Question
August 24, 2020 • 02:56 am 30 points
  • UGC NET
  • Economics

Question label multiple choice question 400 what will be price elasticity of demand at if the demand function is x== p 20 unit ? af e = i t ta htt t p = 20 gat

Question Label Multiple Choice Question 400 what will be price elasticity of demand at If the demand function is X== P 20 unit ? af e = I T Ta HTT T p = 20 gaT TR F Et? Options: PE=0 1. E=o 2 PE=1 3 Less or greate1 than uit 4

1 Answer(s) Answer Now
  • 0 Likes
  • 1 Comments
  • 0 Shares
  • comment-profile-img>
    Nidhi taparia Best Answer

    Option (3) is correct. Refer to the attachment. Although on calculation, the value comes out to be -1, in elasticity we usually only refer to the absolute value. Hence elasticity is unity in this case.

    cropped8293904620242916065.jpg
whatsapp-btn

Do You Want Better RANK in Your Exam?

Start Your Preparations with Eduncle’s FREE Study Material

  • Updated Syllabus, Paper Pattern & Full Exam Details
  • Sample Theory of Most Important Topic
  • Model Test Paper with Detailed Solutions
  • Last 5 Years Question Papers & Answers