CUET Economics 2025 16 May Shift 1 PYQs

Suppose an individual buy 30 bananas when its price is Rs. 10 per banana. When the price increases to Rs. 14 per banana, she reduces her demand to 24 bananas. In this case,what will be the price elasticity of demand?

If demand remains constant at any changes in price of commodity then the elasticity of demand for that commodity will be....................

1. Zero
2. One
3. Between one and zero
4. Infinite

Which one of the following formula is correct for the Marginal Revenue Product of the labor (MRP$_L$)?