Suppose price rises from Rs 15 to Rs 17 and quantity demanded-08838
Suppose price rises from Rs. 15 to Rs. 17 and quantity demanded decreases by 20%. We can conclude:
This multiple choice question (MCQ) is related to the book/course
vu eco401 Economics.
It can also be found in
vu eco401 Final Term - Quiz No.8.
Suppose price rises from Rs. 15 to Rs. 17 and quantity demanded decreases by 20%. We can conclude:
Demand is inelastic.
The elasticity of demand is 2.
Total revenue will decrease.
Demand is unit elastic.
