What will be the effect of 10 percent rise in price of good on its demand if price elasticity of demand is (a) zero,(b)-1 ,(c)-2.
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Elasticity of demand of good X is half the elasticity of demand of good Y. A 25% rise in price of good Y reduces its demand from 400 to 300 units. Find percentage rise in demand of good X when its price falls from Rs.10 to Rs.8
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