CA CPT Dec 2015 Question Paper General Economics for online practice
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A shop keeper sells commodity X at Rs. 20 per piece. At this price he is able to sell 100 pieces of X per month.
After some time, he decreases the price of X to Rs. 10 per piece. Following the price decrease.
He is able to sell 150 pieces of X per month.
The demand for Y increases from 25 units to 50 units.
The demand for commodity Z decreases from 75 units to 50 units.
Read the following data and answer Questions 31 - 32
X, Y and Z are three commodities where X and Y are complementary goods whereas X and Z are substitutes. A shop keeper sells commodity X at Rs. 20 per piece. At this price he is able to sell 100 pieces of X per month.
After some time, he decreases the price of X to Rs. 10 per piece. Following the price decrease.
He is able to sell 150 pieces of X per month.
The demand for Y increases from 25 units to 50 units.
The demand for commodity Z decreases from 75 units to 50 units.
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Question : 31 of 50
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The price elasticity of demand when price of X decreases from Rs. 20 per piece to Rs. 10 per piece willbe equal to:
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