☰

GkSeries.com

Previous Year SSC CHSL 2017 Tier I Questions

Home/
General Knowledge/
a-manufacturer-faces-price-elasticity-of-demand-of-a2-for-its-product-if-it-lowers-its-price-by-5-the-increase-in-quantity-sold-will-be

Q.

A manufacturer faces price elasticity of demand of a -2 for its product. If it lowers its price by 5%, the increase in quantity sold will be

[A] 3%

[B] 10%

[C] 2.50%

[D] 7%

Answer & Explanation
Answer: Option [B]

Click Here to Read more questions