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The coefficient of price elasticity of …

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The coefficient of price elasticity of demand of a commodity is (-)1.5. Caculate the percentage change in total expenditure on it when price falls by 10%.

    • Posted by Ayush Sachan 7 years, 2 months ago

    CBSE > Class 12 > Economics
    • 2 answers

    Samira . 7 years, 2 months ago

    But how is it related to expenditure??i wanna know .

    1Thank You

    Samira . 7 years, 2 months ago

    Elasticity of demand = percentage change in quantity demanded /percentage change in price ;;;;; -1.5=%change in demand/ 10%= 15%change . 15 is correct answer for percentage change in demand .

    2Thank You

    ANSWER
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