Question
With the rise in price from ₹ 8 to ₹ 14. Total
expenditure on the commodity rises by 40% and becomes ₹ 1,120. Calculate the price elasticity of demand.Solution
New Price, P1 = 14 New quantity, Q1 = 1120/14 = 80 Old total expenditure, X X+ 40% of X = 1120 X = 800 Old Price, Po = 8 Old Quantity, Qo = 800/8 = 100 Therefor, change in quantity = -20 Change in price = 6 Price elasticity of demand = dQ/dP * Po/Q0 = -20/6 * 8/100 = -0.267
Which of the following will be definitely true if the given expression P > S ≥ U > V = T ≤ W < R = Q is definitely true?
Statement: M < N; O ≥ P; O ≥ L; P > N ≥ Q
Conclusion:
I. N > L
II. L > Q
Statement: X≤W=Y<P; W≥Z; Z ≥X
I. P>X
II. Y≥X
Statements: A$K; E#N; K@E
Conclusions:
I) A$N
II) A@N
In the following question, a relationship between different elements is shown in the statements followed by two conclusions I and II. Assuming the state...
Statements: J @ K, K $ L, L & M, M % N
Conclusions: I. K @ M II. N & J
...Statement: A > B = E < F > H; I ≤ D < C; H > G > C
Conclusions:
I. F > I
II. I < G
III. B < G
Which of the following symbols should replace the question mark (?) in the given expression in order to make the expressions ‘N > S’, and ‘S < V�...
Statements: X < Y < Z = L, R = S > T, T ≥ U < V = W > X
Conclusions:
I. R > Y
II. W < L
III. S > X
Statement: D < M < P = V = E ≥ T > Z
Conclusion: I. P > Z II. D > E
