Question

1.Suppose there is an 18% increase in quantity demanded of a commodity due to 6% fall in the price

of the commodity. Estimate the elasticity of demand. Also, comment on the nature of the elasticity

of demand.​

Answer 1

Answer:3

Explanation:

as you know the elasticity will be never negative

Use the formula

%change in qd/%change in price

so answer willbe 3