A consumer buys 100 units of a goods at a price of ₹ 6 per unit. Suppose price elasticity of demand is -3. At what price will he buy 80 units?
CA Foundation · Business Economics · PYQS · May 2025
A consumer buys 100 units of a goods at a price of ₹ 6 per unit. Suppose price elasticity of demand is -3. At what price will he buy 80 units?
Suggested Answer and Working Notes:
Correct Answer: Option (C)
C. ₹ 6.4
Topics: Theory of Demand and Supply
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