The following demand function for readymade trousers in a town is given as: Q = 2000 + 15Y – 5.5 P where Y is income in thousands of rupees. Find the income elasticity of demand when P = 150 and per capita income in the city is Rs. 15000.

Board: JKSSB
JSA 2021
Economics
Attempts: 15  •  Right: 3  •  Wrong: 4