The demand function of a product X (in kg.) is expressed as Q = 1000 – 50P, where Q is the quantity demanded and P is the price of the product. When…
CA Foundation · Business Economics · PYQS · September 2024
The demand function of a product X (in kg.) is expressed as Q = 1000 – 50P, where Q is the quantity demanded and P is the price of the product. When price of X is ₹ 10 per kg., it's price elasticity will be:
Suggested Answer and Working Notes:
Correct Answer: Option (A)
A. 1
Topics: Theory of Demand and Supply
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