If the price of X is ₹ 2 and the elasticity of demand is 0.4 , how much will a 10 percent
Channel: Doubtnut
Date: 2020-05-03

If the price of X is ₹ 2 and the elasticity of demand is 0.4 , how much will a 10 percent reduction in quantity demanded increase the price ? If the new quantity demanded is 9 units, will the total spending on  X rise ? If so, by what percentage ?