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The demand for good bouble due …

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The demand for good bouble due to 25 per cent fall in its price calculate its price elasticity of demand??

    • Posted by Ajay Soni 7 years ago

    CBSE > Class 12 > Economics
    • 1 answers

    Sonal Chandila 7 years ago

    Let the Initial Qnty demand be X then New qnty demand will be 2X. ∆ in Q.D.= 2X -X = X Percentage change in Q.D. = ∆QD÷Q (initial) × 100 =X÷X × 100 = 100% Edx = (-)% ∆ in Q.D. ÷ % ∆ in Price = (-)100÷ (-)25 ( because price falls) Edx= 4

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