What is the original price of a commodity when price elasticity is 0.71 and demand changes from 20 units to 15 units and the new price is Rs 10? (Point Elasticity) (a) Rs 15.4 (b) Rs.18 (c) Rs.20 (d) Rs.8

Managerial Economics: A Problem Solving Approach
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Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
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What is the original price of a commodity when price elasticity is 0.71 and demand changes

from 20 units to 15 units and the new price is Rs 10? (Point Elasticity)

(a) Rs 15.4

(b) Rs.18

(c) Rs.20

(d) Rs.8

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