Question
Zia wants to increase total revenue at his
restaurant. The price elasticity of demand for several dishes that he serves are given in the table below. Price elasticity of demand of Malaysian dishes Dish Price elasticity of demand Nasi lemak 0.7 Satay 2 Rendang 1 Ulam 1.4 Pulut 100 What dish should Zia increase the price of if she wants to increase total revenue?Solution
PED for Nasi lemak is less than 1 which means its price inelastic. If Zia raises the price of this dish, qty dd will decrease by a smaller amount than she increases the price, as a result, its total revenue increases.
How V related to T?
Answer the questions based on the information given below.
Eight persons M, N, O, P, Q, R, S, and T belong to a family of three generations. Th...
How is U related to A?
Who is mother-in-law of R?
How is T’s father related to W, if W is a female?
- Ankita is sister of the son of Gautam. Deepak’s wife is mother of Suravi. Lata is grandmother of Suravi. There are two married couple in the family. How ...
How many male members are in the family?
R is the brother of S. S is mother of U. T is sister of U, who is the son of V. How is S related to T?
How is J related to M?
How is R related to T?