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How can we calculate the Inflation rate
Inflation: The rise in general prices and the decrease in value of money. Inflation is a sustained increase in the general price level. In other words it is the rate at which prices are enhancing. It can be measured monthly, quarterly or annually. It is usually calculated by the Retail Price Index.
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solution for -calculate price elasticity of demand for demand function Q= 10 - 2p for decrease in price from Rs. 3 to Rs.2
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