Previous Year SSC CHSL 2017 Tier I Questions

Question

If price of an article decreases from P1 to Rs 25, quantity demanded increases from 900 units to 1200 units. If point elasticity of demand is ­2 find P1?

A Rs. 20
B Rs. 30
C Rs. 35
D Rs. 15

Answer & Explanation

Answer: Option [B]

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