When the price of X doubles , its quantity demanded falls by 60 percent . Calculate its price elasticity of demand . What should be the percentage cha

Question

When the price of X doubles , its quantity demanded falls by 60 percent . Calculate its price elasticity of demand . What should be the percentage cha

When the price of X doubles , its quantity demanded falls by 60 percent . Calculate its price elasticity of demand . What should be the percentage change in price so that its quantity demanded doubles.

Monjur Alahi

4 views

2025-01-04 04:42

1 Answers

Related Questions

The price elasticity of supply of commodities X and Y is equal. The price of X falls from Rs.10 to Rs.8 per unit and supply falls by 16 percent. The p

2 Answers 6 Views

A 5 percent fall in the price of X leads to a 10 percent rise in demand for X. A2 per cent reise in the price of Y leads to a 6 percent fall in demand

2 Answers 6 Views

At a price of Rs. 50 per unit the quantity demanded of a commodity is 1000 units . When its price falls by 10 percent , its quantity demanded rises to

2 Answers 6 Views

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

2 Answers 6 Views

Price elasticity of demand of a good is (-)2. The consumer buys a certain quantity of this good at a price of Rs. 8 per unit . When the price falls he

2 Answers 5 Views

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

2 Answers 6 Views

When price of a commodity X falls by 10 percent , its demand rises from 150 units to 180 units. Calculate its price elasticity of demand . How much sh

2 Answers 5 Views

When the price of a commodity falls from Rs. 10 per unit to Rs. 9 per unit , its quantity supplied falls by 20 percent . Calculate its price elesticit

2 Answers 8 Views

The price elasticity of supply of a commodity is 2. When its price falls from Rs. 10 to Rs. 8 per unit, its quantity supplied falls by 500 units . Cal

2 Answers 8 Views

The price elasticity of supply of a commodity Y is half the price elasticity of supply of commodity X. 16 percent rise in price of X results in 40 per

2 Answers 5 Views

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

Salim Ahmed Kawsar

`E_(P)=(% " change in " Q_(d))/(% " change in P")=(-60%)/(100%)=-0.6`
`-0.6=(100%)/(% " change in P")`
`%` change in P `=(100%)/(-0.6)=-166.67%`.

4 views Answered 2023-02-05 15:29