When price of a good falls by 10 percent , its quantity demanded rises from 40 units to 50 units. Calculate price elasticity of demand by the percenta

Question

When price of a good falls by 10 percent , its quantity demanded rises from 40 units to 50 units. Calculate price elasticity of demand by the percenta

When price of a good falls by 10 percent , its quantity demanded rises from 40 units to 50 units. Calculate price elasticity of demand by the percentage method.

Monjur Alahi

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2025-01-04 04:42

1 Answers

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Salim Ahmed Kawsar · Accepted Answer · 2023-02-05T15:29:48+06:00

Salim Ahmed Kawsar

`E_(P)=(%" change in Qty . Demanded")/(% " change in price")=((10)/(40)xx10)/(-10)=(25)/(-10)=(-)2.5`

6 views Answered 2023-02-05 15:29