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Income elasticity of demand is the percentage change in quantity demanded divided by the percentage change in income. Which type of goods have negative income elasticity of demand?
The price of a commodity is Rs. 20 and the quantity demanded at this price is 200 units. If the price falls to Rs. 16 and the quantity demanded increases to 280 units, calculate the price (arc) elasticity
Statement I Point price elasticity of demand in terms of marginal and average revenues can be measured with the following formula $$\frac{{AR}}{{AR - MR}}.$$
Statement II The point price elasticity of demand is the product of the slope of the demand function and the ratio between corresponding price and quantity.
Which one of the following sets is incorrect to show the inter-relationships among price elasticity coefficient, change in price and change in total revenue ? Price elasticity coefficient Change in price Change in Total Revenue 1) Zero Increase Decrease Increase Decrease (2) Less than 1 Increase Decrease Decrease Increase (3) Equal to 1 Increase Decrease No change No change (4) More than 1 Increase Decrease Decrease Increase  
The following question contains a statement followed by Quantity 1, 2 and 3. You should use the given data and your knowledge of Mathematics to choose among the possible answer.  The options represent the relations between these three quantities  A) >  B) <  C) = D) ≤  E) ≥  1) A, B  2) B, C  3) B, A  4) E, B  5) B, D  Quantity 1: Find the profit percentage on selling a Ray ban sunglass after offering a discount of 20%, if it costs Rs. 1250 and marked up by Rs. 400. Quantity 2: The profit earned by selling an article for Rs. 210 is 20% while the discount percentage allowed on the article is at the rate of 30% then find the percentage by which marked price of the article is raised above cost price?  Quantity 3: What is the profit percentage earned by selling an article which costs Rs. 180 and the shopkeeper sold the article for Rs. 320?
Match List I with List II: List I (Pricing Strategies) List II (Description) (A) Ramsay pricing (I) Setting a high price when a product is first introduced and gradually lowering price as it gains scale (B) Price skimming (II) Firm charges lower price (than the ongoing price) to gain market entry (C) Cost plus pricing (III) Price deviations from marginal cost should be inversely proportional to price elasticity of the product (D) Penetration pricing (IV) It is full cost pricing strategy that also includes mark up for target return, degree of competition, price elasticity and availability of substitutes. Choose the correct answer from the options given below:
Identify the coefficient of price-elasticity of demand when the percentage increase in the quantity of a commodity demanded is smaller than the percentage fall in its price
If the percentage increase in the quantity of a commodity demanded is smaller than the percentage fall in its price, the coefficient of price elasticity of demand is
Corn prices registered an increase of 50%. The demand, as a result of rise in prices, decreased - a case called demand elasticity. What will be the demand elasticity, if the demand fell by 10% in this case?
Given below are three quantities named A, B and C. Based on the given information, determine the relation among the three quantities. Quantity 1: The marked price of a timex sports watch was Rs.720. A man bought the same for Rs. 550.80 after getting two successive discounts, the first being 10%. What was the second discount rate? Quantity 2: The shopkeeper sold his good at half the list price and thus lost 20%. If he had sold on the listed price, find the gain percent. Quantity 3: The timber trader marked his good at 20% above the cost price. He sold half the stock at the marked price, one quarter at a discount of 20% on the marked price and the rest at the discount of 30% on the marked price. Find the total gain.