Record the daily expenditure, quantities bought and prices paid per unit of the daily purchases of your family for two weeks. How has the price change affected your family?

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Solution

This is a practice exercise. Record the daily expenditure, quantities bought and prices paid per unit of the daily purchases of your family for two weeks and try to analyse if quantities purchased decrease with a rise in price of the respective items and also note if the percentage change in quantity brought about by a percentage change in price differ for different types of items.

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