Current Affairs

GK MCQs Section
Q. Find the arc elasticity of demand, if the quantity demanded increases from 4600 to 4200 by increasing the price of the commodity from Rs.960 to Rs.1000?
Answer: 2.23
Notes: Arc elasticity measures the midpoint between two selected points. It is given by the formula: E P P QD QD Q P D ?? D ?? , , 1 2 1 2 2 2 ?? , , , , , p p qd qd q p 1 2 d 1 2 ?? , Using the values given in the question, we have P1 = Rs. 960; P2 = Rs. 1000; Q1 = 4600 units; Q2 = 4200 units. We get ed = -2.23.
Question Source: 📚This question has been sourced from GKToday's "40000+ GK / General Studies MCQs for SSC & State PCS Exams" App Exclusive Course in GKToday Android Application which provides more than 40K General Knowledge and General Studies questions with explanations asked in all Competitive Exams of India. Download the app here.
📌 Question Number: 81 in General Studies Mock Test - 14 in the above course in App.

This Question is Also Available in:

हिन्दीಕನ್ನಡ