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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.
  • 1 answers

Parshant Kumar 3 months, 3 weeks 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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