Question

500 units of goods are demanded at the price of rs. 50.How many units are been demanded when price of product increase by rs. 10 and ED is 2​

Answer 1

Answer:

q1=500+200 =700

Explanation:

Ed =(∆q/∆P)×(p/q)

2= (∆q/60-50)×(50/500)

2=(∆q/10)×1/10

2×10×10=∆q

∆q=200

∆q=q1-q

200=q1-500

q1=500+200 =700