Question Description
Directors: In a particular city only two products X and Y were sold. Their demand (D) and price (P) varied from 2008 to 2015 as the income (I) of the residents of the city.An economist entered this city and calculated -Own price elasticity (PE) of product which was the change in demand of the product by change in price of the productIncome elasticity (IE) of product which was the change in demand of the product by change in the incomeCross price elasticity (CE) of product which was the change in demand of the product by change in price of the other productQ. What is cross-price elasticity of product X to Y and of product Y to X for the year 2014 - 15?a)Both are sameb)-15.00, 15.00c)-15.00, 25.00d)25.00, -15.00Correct answer is option 'C'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared
according to
the CAT exam syllabus. Information about Directors: In a particular city only two products X and Y were sold. Their demand (D) and price (P) varied from 2008 to 2015 as the income (I) of the residents of the city.An economist entered this city and calculated -Own price elasticity (PE) of product which was the change in demand of the product by change in price of the productIncome elasticity (IE) of product which was the change in demand of the product by change in the incomeCross price elasticity (CE) of product which was the change in demand of the product by change in price of the other productQ. What is cross-price elasticity of product X to Y and of product Y to X for the year 2014 - 15?a)Both are sameb)-15.00, 15.00c)-15.00, 25.00d)25.00, -15.00Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam.
Find important definitions, questions, meanings, examples, exercises and tests below for Directors: In a particular city only two products X and Y were sold. Their demand (D) and price (P) varied from 2008 to 2015 as the income (I) of the residents of the city.An economist entered this city and calculated -Own price elasticity (PE) of product which was the change in demand of the product by change in price of the productIncome elasticity (IE) of product which was the change in demand of the product by change in the incomeCross price elasticity (CE) of product which was the change in demand of the product by change in price of the other productQ. What is cross-price elasticity of product X to Y and of product Y to X for the year 2014 - 15?a)Both are sameb)-15.00, 15.00c)-15.00, 25.00d)25.00, -15.00Correct answer is option 'C'. Can you explain this answer?.
Solutions for Directors: In a particular city only two products X and Y were sold. Their demand (D) and price (P) varied from 2008 to 2015 as the income (I) of the residents of the city.An economist entered this city and calculated -Own price elasticity (PE) of product which was the change in demand of the product by change in price of the productIncome elasticity (IE) of product which was the change in demand of the product by change in the incomeCross price elasticity (CE) of product which was the change in demand of the product by change in price of the other productQ. What is cross-price elasticity of product X to Y and of product Y to X for the year 2014 - 15?a)Both are sameb)-15.00, 15.00c)-15.00, 25.00d)25.00, -15.00Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CAT.
Download more important topics, notes, lectures and mock test series for CAT Exam by signing up for free.
Here you can find the meaning of Directors: In a particular city only two products X and Y were sold. Their demand (D) and price (P) varied from 2008 to 2015 as the income (I) of the residents of the city.An economist entered this city and calculated -Own price elasticity (PE) of product which was the change in demand of the product by change in price of the productIncome elasticity (IE) of product which was the change in demand of the product by change in the incomeCross price elasticity (CE) of product which was the change in demand of the product by change in price of the other productQ. What is cross-price elasticity of product X to Y and of product Y to X for the year 2014 - 15?a)Both are sameb)-15.00, 15.00c)-15.00, 25.00d)25.00, -15.00Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Directors: In a particular city only two products X and Y were sold. Their demand (D) and price (P) varied from 2008 to 2015 as the income (I) of the residents of the city.An economist entered this city and calculated -Own price elasticity (PE) of product which was the change in demand of the product by change in price of the productIncome elasticity (IE) of product which was the change in demand of the product by change in the incomeCross price elasticity (CE) of product which was the change in demand of the product by change in price of the other productQ. What is cross-price elasticity of product X to Y and of product Y to X for the year 2014 - 15?a)Both are sameb)-15.00, 15.00c)-15.00, 25.00d)25.00, -15.00Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Directors: In a particular city only two products X and Y were sold. Their demand (D) and price (P) varied from 2008 to 2015 as the income (I) of the residents of the city.An economist entered this city and calculated -Own price elasticity (PE) of product which was the change in demand of the product by change in price of the productIncome elasticity (IE) of product which was the change in demand of the product by change in the incomeCross price elasticity (CE) of product which was the change in demand of the product by change in price of the other productQ. What is cross-price elasticity of product X to Y and of product Y to X for the year 2014 - 15?a)Both are sameb)-15.00, 15.00c)-15.00, 25.00d)25.00, -15.00Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Directors: In a particular city only two products X and Y were sold. Their demand (D) and price (P) varied from 2008 to 2015 as the income (I) of the residents of the city.An economist entered this city and calculated -Own price elasticity (PE) of product which was the change in demand of the product by change in price of the productIncome elasticity (IE) of product which was the change in demand of the product by change in the incomeCross price elasticity (CE) of product which was the change in demand of the product by change in price of the other productQ. What is cross-price elasticity of product X to Y and of product Y to X for the year 2014 - 15?a)Both are sameb)-15.00, 15.00c)-15.00, 25.00d)25.00, -15.00Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Directors: In a particular city only two products X and Y were sold. Their demand (D) and price (P) varied from 2008 to 2015 as the income (I) of the residents of the city.An economist entered this city and calculated -Own price elasticity (PE) of product which was the change in demand of the product by change in price of the productIncome elasticity (IE) of product which was the change in demand of the product by change in the incomeCross price elasticity (CE) of product which was the change in demand of the product by change in price of the other productQ. What is cross-price elasticity of product X to Y and of product Y to X for the year 2014 - 15?a)Both are sameb)-15.00, 15.00c)-15.00, 25.00d)25.00, -15.00Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice CAT tests.