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CUET Economics 2022 PYQs19 July Shift 2. Free, no login required.

Micro

past year questions, CUET Economics 2022 19 July Shift 2

Consumer Behaviour

past year questions, Micro, CUET Economics 2022 19 July Shift 2

Easy

Find the value of price elasticity of demand of a good whose demand decreases by 20% for an increase in its price of 10%.

Solution

✅ Correct Option: 2

Price elasticity of demand (absolute value) = percentage change in quantity demanded divided by percentage change in price = 20%10%=2\frac{20\%}{10\%} = 2.

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List-IList-II
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