Q5) Suppose the market demand for playing cards is given by the equation Q = 600 – 100P Where Q is the no. of decks of cards demand each year and P is the price in Rupee. For a price increase from Rs. 2 to Rs. 3 per deck, what is the price elasticity?

Q5) Suppose the market demand for playing cards is given by the equation Q = 600 – 100P Where Q is the no. of decks of cards demand each year and P is the price in Rupee. For a price increase from Rs. 2 to Rs. 3 per deck, what is the price elasticity?

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter4: Estimating Demand

Section: Chapter Questions

Problem 6E

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