Price elasticity of demand of a good is (-)1 . When its price falls by one rupee , its demand rises from 16 to 18 units . Calculate the price before c

Question

Price elasticity of demand of a good is (-)1 . When its price falls by one rupee , its demand rises from 16 to 18 units . Calculate the price before c

Price elasticity of demand of a good is (-)1 . When its price falls by one rupee , its demand rises from 16 to 18 units . Calculate the price before change.

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)=(P)/(Q)xx(DeltaQ)/(DeltaP)`
`(-)1=(P)/(16)xx(2)/(-1)`
`2P=16orP=8(Rs.)`.

6 views Answered 2023-02-05 15:29