Question
With the rise in price from ₹ 8 to ₹ 14. Total
expenditure on the commodity rises by 40% and becomes ₹ 1,120. Calculate the price elasticity of demand.Solution
New Price, P1 = 14 New quantity, Q1 = 1120/14 = 80 Old total expenditure, X X+ 40% of X = 1120 X = 800 Old Price, Po = 8 Old Quantity, Qo = 800/8 = 100 Therefor, change in quantity = -20 Change in price = 6 Price elasticity of demand = dQ/dP * Po/Q0 = -20/6 * 8/100 = -0.267
If B is related to Orange, similarly A is related to Grey. In the similar way, H is related to?
Statement:
Few A are B
All A are D
All B are C
Conclusion:
I. Some A are C
E is the son of A. D is the son of B. E is married to C. C is B’s daughter. How is D related to E?
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