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 : If the price of a product increases from INR 50 to INR 60 per unit, and the quantity demanded decreases from 100 units to 80 units, calculate the price elasticity of demand.

Option 1: 0.5

Option 2: 1.0

Option 3: 1.5

Option 4: 2.0

Question : A product has an initial quantity demanded of 80 units at a price of INR 6 per unit. Due to a price change, the new price is INR  8 per unit, and the new quantity demanded is 60 units. Calculate the percentage change in quantity demanded.

Option 1: -10%

Option 2: -20%

Option 3: -25%

Option 4: -30%

Question : The quantity demanded of a good decreases from 200 units to 160 units when the price increases from INR 20 to INR 25 per unit. Calculate the price elasticity of demand.

Option 1: 0.5

Option 2: 1.0

Option 3: 1.5

Option 4: 2.0