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A tyre tube manufacturer faces a -1.6 price elasticity of demand for its tubes. It is presently selling 24000 units/ month. If it wants to increase quantity sold by 4%, it must lower its price by _______.

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Combined Graduate Level Examination (CGLE) is a national-level examination conducted by SSC to recruit suitable candidates for different Group B and Group C posts under Government of India.

A tyre tube manufacturer faces a -1.6 price elasticity of demand for its tubes. It is presently selling 24000 units/ month. If it wants to increase quantity sold by 4%, it must lower its price by _______.






 
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