Question

A conaumer buys 4 dozen banana at rs 20 per dozen when price of banana rises to 20 % consumer spent rs 100 on banana .calculate price elastocoty of demand

Answer 1

%change in price =20%

amount of bananas purchased@24/dozen= 100/24= 4.16 dozens

hence,

% change in Quantity demanded =4.16/4×100

hence you can calculate onwards