- 04/25/2019 at 2:55 pm #618634EduGorillaKeymasterSelect Question Language :
Directions: Read the following data and answer the question.
XYZ are three commodities where X and Y are complements whereas X and Z are substitutes.
A shopkeeper sells commodity X at Rs. 40 per piece. At this price, he is able to sell 100 commodities of X per month. After some time, he decreases the price of X to Rs. 20.
Following the price decrease:
He is able to sell 150 pieces of X per month.
The demand for Y increases from 25 units to 50 units.
The demand for Z decreases from 150 to 75 units.
The cross-elasticity of monthly demand for Y when the price of X decreases from Rs. 40 to Rs. 20 is equal to
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