Question

A 5% rise in price of good X leads to 10% fall in its demand. A consumer buys 100 units of good Y when its price is Rs. 5 per unit. At what price will the consumer buy 120 units of good Y if the ratio of price elasticity of demand for good X and Y is 2:1.

Answer 1

Answer:

Explanation:

The actual ratio of the x and y are: