Mr Ram spends Rs 80 on a commodity at a price of Re 1 per unit and Rs 100 at a price of Rs 2 per unit.What is the price elasticity of demand?
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a consumer spends Rs 80 on a commodity at a price of Rs 1 per unit and Rs 100 at a price of Rs 2 per unit . what is the price elasticity of demand ? Thus, the price elasticity of demand is 0.375.
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