CUET Economics - Suppose a consumer purchase 15 bananas when its price is Rs. 5 per banana. When the price increases to Rs. 7 per banana, consumer reduces his demand to 12 bananas. Price elasticity of demand would be........... 1. 0.5 2. 0.6 3. 0.4 4. 0.7 | PYQs + Solutions

CUET Economics 2025 14 May Shift 1

Micro

Medium

0.5

0.6

0.4

0.7

✅ Correct Option: 1

Related questions:

27 May Shift 2

The total sum that the consumer has to spend on wheat in 2022?

15 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Budget Set	(I) $-(P_1/P_2)$
(B) Slope of the budget line	(II) $M/P_1$
(C) Horizontal intercept of the budget line	(III) $P_1 X_1 + P_2 X_2 \le M$
(D) Vertical intercept of the budget line	(IV) $M/P_2$

Choose the correct answer from the options given below:

27 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Consumer's income changes, but prices remain unchanged. The equation of the budget line.	(I) p₁ x₁ + p₂ x₂ = M
(B) Marginal Rate of Substitution (MRS)	(II) p₁ x₁ + p₂ x₂ = M
(C) The price of a commodity changes, but income remains unchanged. The equation of the budget line.	(III) Δ Y/ΔX
(D) Total Utility	(IV) MU₁ + MU₂ + ... + MUₙ + MUₓ

Choose the correct answer from the options given below:

CUET Economics 2025 14 May Shift 1 PYQs