Since the price rises from Rs 5 to Rs 7 and elasticity of demand is 0.5 (positive), the law of demand applies: a rise in price reduces quantity demanded. So the individual will reduce his demand.
Suppose an Individual buys 15 units of good when its price is Rs 5 per unit. What will happen to his demand when price of the good increases to Rs 7…
CUET UG 2023 — Economics Micro
2023mcqmedium
Suppose an Individual buys 15 units of good when its price is Rs 5 per unit. What will happen to his demand when price of the good increases to Rs 7 per unit and elasticity of demand for the good is 0.5
Official previous-year question
Verified 13 Jul 2026.
Options
- A
Increase his demand
- B
No change in his demand
- C
Reduce his demand
- D
Shift to other Good.
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