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22 vote

Price of a product falls by 10% and its demand rises by 30%. The elasticity of demand is

Asked on by | Votes 22 | Views: 1263 | Tags: general knowledge     | commerce     | economics     | Add Bounty

Price of a product falls by 10% and its demand rises by 30%. The elasticity of demand is

A).  10%

B).  30%

C).  3

D).  1


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35 vote
Answered by on | Votes 35 |

 3



Price of a product falls by 10% and its demand rises by 30%. The elasticity of demand is 3.

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