Question

9. For a commodity, if Es = 1.4 and = 0.6, find the percentage change in quantity supplied.
P
[Ans. 84%]
​

Answer 1

Explanation:

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Answer 2

Answer:

For a commodity if es=1.4 and ∆p÷p=0.6 find the percentage change in quantity supplied

Explanation:

ANSWER

Percentage change in price =

P

△P

×100=−0.2×100=(−)20%

Elasticity of demand (E

d

)=

Percentage change in price

△Percentage change in quantity demanded

−0.3=

−20%

Percentage change in quantity demanded

Percentage change in quantity demanded =0.3×−20 per cent =6 per cent

Percentage change in quantity demanded =6%.

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