If price of an article decreases from Rs. 60 to Rs. 50, when quantity demanded increases from 1000 units to 1200 units. Find point elasticity of demand?
1
-1
2
1.2
3
1.5
4
1.6
If price of an article decreases from Rs. 60 to Rs. 50, when quantity demanded increases from 1000 units to 1200 units. Find point elasticity of demand?