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At a price of rupee 20 …

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At a price of rupee 20 per unit, the quantity demanded of a commodity is 300 units. If the price Falls by 10%, its quantity demanded Rises by 60 units. Calculate its price elasticity.

    • Posted by Chandrika Sharma 7 years, 9 months ago

    CBSE > Class 12 > Economics
    • 3 answers

    Chandrika Sharma 7 years, 9 months ago

    P= rupee 20, Q=300 units, price Falls by 10% = rupee 18 and Quantity demanded Rises by 60 units = 360 units Ed= (-)ΔQ/Q × P/ΔP Ed=(-)60/300 ×20/(-)2 Ed=(-)2/10 ×(-)10 Ed=2

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    Vishal Kumar 7 years, 9 months ago

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