Question

A shopkeeper sells gel pen at Rs. 10 per pen. At this price he can sell 120 per month. After some time, he raises the price to Rs. 15 per pen. Following the price rise: • Only 60 pens were sold every month The number of refills bought were down from 200 to 150. The number of ink pen customers bought went up from 90 to 180 per month. The cross elasticity of monthly demand for refils when the price of gel pen increase from Rs. 10 to Rs. 15 is equal to: (a) -0.71 (b) +0.25 (c) -0.1 (d) +0.38​

Answer 1

Answer:

d)+0.38 is the right answer

Step-by-step explanation:

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