Economy, asked by harishankar99655, 9 months ago

A consumer buys 20 units of a good at a price of ` 5 per unit. He incurs an expenditure of 120 when he buys 24 units. Calculate the price elasticity of demand using the percentage method. Comment upon the likely shape of the demand curve based on this information.

Answers

Answered by brainly5315

5

Answer:

Quantity (Units) Price (Rs.) TE (Rs.) 20 5 400 24 5 120 Hence, the likely shape of demand curve is parallel

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