Question

4. When the price of a good rises from 10 per unit to 12 per unit, its quantity demanded
falls by 20 per cent. Calculate its price elasticity of demand. How much would be
the percentage change in its quantity demanded, if the price rises from * 10 per unit to 13
per unit?
[Ans. e = 1, % change in Q = 30] (AI 2017)
Detailed answer

Answer 1

Answer:

Hence,Demand falls down by 30% when price rise from Rs 10 to Rs 13