Question

Let Qx = 1400÷Px,
Find the total expenditure on Good X when price falls from Rs 6 to Rs 1; derive the value of Ed & what shape the demand curve will take ?

(a) Rs 1400, Ed= 1 & Rectangular Hyperbola

(b) Rs 1400, Ed< 1, steep demand curve

(c) Rs 1400 ,Ed> 1,flatter demand Curve

(d) Rs 2800 ; Ed=1 , Rectangular Hyperbola

Please Give Full Solution​

Answer 1

Answer:

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