Question : A product has an initial quantity demanded of 120 units at a price of INR 12 per unit. Due to a price change, the new price is INR 10 per unit, and the new quantity demanded is 160 units. Calculate the percentage change in price.

Option 1: -10%

Option 2: -12.5%

Option 3: -16.7%

Option 4: -20%

Question : A product has an initial quantity demanded of 100 units at a price of INR 10 per unit. Due to a price change, the new quantity demanded is 120 units. Calculate the price elasticity of demand.

Option 1: 0.5

Option 2: 1.5

Option 3: 2.0

Option 4: 2.5

Question :  If the price of a product increases from INR 50 to INR 60 per unit, and the quantity demanded decreases from 80 units to 70 units, calculate the percentage change in quantity demanded.

Option 1: -10%

Option 2: -12.5%

Option 3: -14%

Option 4: -20%

Question : The price of a product increases from INR 80 to INR 100 per unit, resulting in a decrease in quantity demanded from 60 units to 40 units. Calculate the percentage change in total expenditure.

Option 1: -20%

Option 2: 0%

Option 3: -10%

Option 4: -25%

Question : The price of a product decreases from INR 100 to INR 80 per unit, resulting in an increase in quantity demanded from 50 units to 70 units. Calculate the percentage change in price.

Option 1: -20%

Option 2: -25%

Option 3: -33.33%

Option 4: -50%