Question

ASSIGNMENTMicroeconomics (Saturday 6:30 to 9:30)Submitted by 19 October 2019Q. 1:    Calculate the Price Elasticity of Demand for each, and comment on your result.The price of a Smartphone is currently Rs.20000, and the quantity demanded is 4 million. Next year the price falls to Rs.18000 and the quantity demanded rises to 6 million.The price of a Pen today is Rs.10, and the quantity demanded is 1million. Next year the price rises to Rs.11 and the quantity demanded falls to 950,000.The price of a daily newspaper today is Rs.25, and the quantity demanded is 2million. Next year the price falls by 30p and the quantity demanded rises to 2.2million.Q.2:    Dell is an electronics manufacturer and retailer. Its main products are ultrabook computers, PCs and calculators.  The current price of the ultrabook is Rs.50000 the PC is 80000 and the calculator is Rs.4000. This year the firm sold 10,000 ult

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