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The Price elasticity of demand for a product is 1.5 and its MR = 8, find its price:

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Question:

The Price elasticity of demand for a product is 1.5 and its MR = 8, find its price:

A.

12

B.

24

C.

53

D.

16

Answer» b. 24

Note: The above multiple-choice question is for all general and Competitive Exams in India.