A book seller estimates that if the price of a book is increased from Rs. 60 to Rs. 67 the quantity of books demanded will decrease from 2,035 to 1,946. The Book’s Price Elasticity of Demand is approximately
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Answer:
120/7 x 89/3981 or 60/7 x 89/2035
final answer 0.38 which is round about 0.4
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A book seller estimates that if the price of a book is increased from Rs 60 to Rs 67, the quantity of books demanded will decrease from 2,035 to 1,946. The Book's Price Elasticity of - 29/7 * 60/2095 = - 5340/14245
Demand is approximately
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