If the price elasticity of demand of a product is (-) 3, what should be the price of the product for its MR to be ₹20?
CA Foundation · Business Economics · MTP · April 2025
If the price elasticity of demand of a product is (-) 3, what should be the price of the product for its MR to be ₹20?
Suggested Answer and Working Notes:
Correct Answer: Option (C)
C. ₹30/unit
Topics: Theory of Demand and Supply
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