Rajat Arora – Class 11th Chintu/Chinti Gang

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Question of the Day:) A dentist was charging Rs. 300 for a standard cleaning job and it used to generate total revenue equal to Rs. 30,000 per month. She has, since last month, increased the price of dental cleaning to Rs. 350. As a result, fewer customers are now coming for dental cleaning, but the total revenue is now Rs. 33,250. From this, what can we conclude about the elasticity of demand for her dental service.

Question of the Day:)
Assertion (A): In a Common-Size Statement, figures of previous year are taken as base for comparison.
Reason (R): Common-Size Statements enable horizontal analysis.
In the context of the above two statements, which of the following is correct?
Codes:
(a) A and R both are correct and R correctly explains A
(b) Both A and R are correct but R does not explain A
(c) Both A and R are incorrect
(d) A is correct but R is incorrect