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Suppose a department store has a sale on its silverware. If the price of a plate-setting is reduced from Rs. 300 to Rs. 200 and the quantity demanded increases from 3,000 platesettings to 5,000 plate-settings, what is the price elasticity of demand for silverware?a).8b)1.0c)1.25d)1.50Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Suppose a department store has a sale on its silverware. If the price of a plate-setting is reduced from Rs. 300 to Rs. 200 and the quantity demanded increases from 3,000 platesettings to 5,000 plate-settings, what is the price elasticity of demand for silverware?a).8b)1.0c)1.25d)1.50Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Suppose a department store has a sale on its silverware. If the price of a plate-setting is reduced from Rs. 300 to Rs. 200 and the quantity demanded increases from 3,000 platesettings to 5,000 plate-settings, what is the price elasticity of demand for silverware?a).8b)1.0c)1.25d)1.50Correct answer is option 'C'. Can you explain this answer?.

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