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Anybody plss gve me the proper answer its an imp question..... Price elasticity of a demand is (-)1. At a given price the consumer buys 60 units of the good.how many units willthe consumer buy if the price fall by 10%?

Posted by Ananthu Ak 5 years, 1 month ago

CBSE > Class 12 > Economics

2 answers

Rajat Sharma 5 years, 1 month ago

Read the answer given which I have given above is wrong you shall do that percentage change in price is 10% percentage change in quantity is x minus 60 upon 60 and elasticity of demand is -1 by equating written by elasticity equation you will find the value of x which is the quadrant

Rajat Sharma 5 years, 1 month ago

When price Forex consumer board 1601 price fall by 10% that tells they become x minus 10 by hundred Into X that is 9 by 10 x and because the price elasticity of demand is -1 on equating it with equation change in price is 1 by 10 x initial price is x initial quantity is 60 solving which you will get the quantity consumed

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