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Demand increases by 10 units when …

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Demand increases by 10 units when price decreases by ₹2. As a result demand increases to 100 units and price decreases to ₹8. Find Ep.

Posted by Yeshu Rajput 3 months ago

CBSE > Class 11 > Economics

1 answers

Parshant Kumar 1 month, 1 week ago

Given, P=Rs.10; P1 = Rs.8; △P=P1−P=Rs.8−Rs.10=(−)Rs.2 Ed=(−)2 Percentage change in price = P△P×100 =10−2×100=(−)20 per cent Price elasticity of demand (Ed)=PercentagechangeinpricePercentagechangeinquantitydemanded −2=−20%Percentagechangeinquantitydemanded Percentage change in quantity demanded =(−)2×(−)20 per cent = 40 per cent Percentage increase quantity demandes equal to 40 percentage 🥰

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