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.
Which of the following Statements about NPCI is/are True?
I- It was established in 2014.
II- NPCI is an initiative taken by the Reserve Ba...
Recently, the traditional artisans of 'Kutch Ajrakh' were awarded the Geographical Indication (GI) certificate. Which state in India is associated with ...
Which of the following is not considered as part of the All India Financial Institutions (AIFI) group, a collection of key financial regulatory bodies w...
What is the primary role of SEBI in the new operational framework?
Which Ministry signed a Memorandum of Understanding (MoU) with the Department of Thai Traditional and Alternative Medicine of the Government of Thailand?
What was the primary goal of the recently launched "Sickle Cell Eradication - 2047" initiative commemorated with a postage stamp?
Who became the first Latin American recipient of the Council of Europe's rights prize in 2024?
What was India’s retail inflation (CPI) in July 2025, the lowest in 8 years?
Recently which state government/UT administration has instructed its departments to do away with archaic language in official papers?
Ecuador’s President Guillermo Lasso announced a 60-day state of emergency in response to a wave of violent crime. What is the capital of Ecuador?
