Calculations

1)#Calculate price elasticity as the price increase from Rs.8 to 10 of income                                                  is Rs.10,000.

#Calculate elasticity if income increase from Rs.10,000 to Rs.12,000, where price supposed to be Rs.14.

Ans: (-4/5, 5/4)
2)Given demand function: Q=200-20p

i)Complete the price elasticity of demand at P=Rs.5

ii)Complete the price elasticity of demand at P1=Rs.6 and P2=Rs.8 by arc method.

3)Find cross elasticity of demand between Tea(x) and Coffee(y) and between Tea(x) and sugar(z).

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