Ms. Jayshree recently completed her Post Graduate Diploma in Human Resource Management and was appointed as the human resource manager of a large steel manufacturing company planning to expand by hiring 200 additional employees. She has been given complete charge of the company’s Human Resource Department. What steps should Ms. Jayshree take to perform her job efficiently?
Suppose the price elasticity of demand for a good is –0.2. If there is a 5 % increase in the price of the good, by what percentage will the demand for the good go down?
