CUET Economics - Find the value of price elasticity of demand of a good whose demand decreases by 20% for an increase in its price of 10%. | PYQs + Solutions

CUET Economics

Micro

Easy

0.2

0.5

✅ Correct Option: 2

Related questions:

26 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Decrease in consumer's income	(I) Budget line becomes steeper
(B) Increase in price of Good X	(II) Parallel and leftward shift in the budget line
(C) Equal reduction in price of both goods X and Y	(III) Budget line becomes flatter
(D) Increase in price of Good Y	(IV) No change in the slope of the budget line

Choose the correct answer from the options given below:

27 May Shift 2

If the price of a commodity increases by 20%, its demand drops by 20%. Then how it will affect the expenditure?

30 May Shift 1

What will be the value of Marginal utility of the 4th unit

CUET Economics PYQs