If the local sweet house raises the price of sonpapri from ₹ 60 to ₹ 100 and quantity demanded falls from 700 sweets a night to 100 sweets a night, the price elasticity of demand for sweet is :
A. 0.67
B. 1.5
C. 2.0
D. 3.0
Answer:D
If the local sweet house raises the price of sonpapri from ₹ 60 to ₹ 100 and quantity demanded falls from 700 sweets a night to 100 sweets a night, the price elasticity of demand for sweet is :
A. 0.67 B. 1.5 C. 2.0 D. 3.0