Previous demand for a commodity was 100 units. Later on their is a decrease in demand by 5 units and an increase in price by5 units. Calculate the original price when elasticity of demand is 1.2
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Intervention endeavor with aims of improving the economic and social well-being of people, economic growth is a phenomenon of market productivity and rise in GDP. Consequently, as economist Amartya Sen points out, "economic growth is one aspect of the process of economic development".
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