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JSA 2021
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Economics
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Question
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
A
0.25
B
0.125
C
0.2
D
0.16
JSA 2021
Economics
Attempts:
15
• Right:
3
• Wrong:
4
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