When the price of good X is Rs 5, the consumer buys 100 units of good X. At what
price would he be willing to purchase 140 units of good X? The price elasticity of
demand for good X is 2.
What will be the answer if this is a 3 marker?
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Water is an inorganic, transparent, tasteless, odorless, and nearly colorless chemical substance, which is the main constituent of Earth's hydrosphere and the fluids of all known living organisms. It is vital for all known forms of life, even though it provides no calories or organic nutrients.
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