What is the formula for the price elasticity of demand for a good? Option 1: ( Q/Q) * (P/ P) Option 2: ( Q/Q) * ( P/P) Option 3: (Q_1-Q_2/Q_1) * (P_1-P_2/P_1) Option 4: (Q_2-Q_1/Q_2) * (P_2-P_1/P_2)

The answer is '( Q/Q) * (P/ P)'. View full solution:

CUET Economics - What is the formula for the price elasticity of demand for a good? | PYQs + Solutions

CUET Economics 2025 3 June Shift 2

Micro

Easy

$(\Delta Q/Q) * (P/\Delta P)$

$(\Delta Q/Q) * (\Delta P/P)$

$(Q_1-Q_2/Q_1) * (P_1-P_2/P_1)$

$(Q_2-Q_1/Q_2) * (P_2-P_1/P_2)$

✅ Correct Option: 1

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Suppose the market determined rent for apartments is $200 per month. The government intervenes and sets the rent control at $250 per month. What is the likely impact of this intervention on market of apartments?

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Match List-I with List-II

List-I	List-II
(A) Demand shifts right and supply remains unchanged.	(I) Price increase, quantity increases.
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(C) Demand shifts left and supply shifts left.	(III) Quantity decreases.
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Choose the correct answer from the options given below:

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)
(A) - (II), (B) - (I), (C) - (III), (D) - (IV)
(A) - (I), (B) - (II), (C) - (IV), (D) - (III)
(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

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CUET Economics 2025 3 June Shift 2 PYQs

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