Question

a consumer buys 20 units of good ₹ 10 per unit. the price of elasticity of a demand at this good is(-)1 . calculate quantity demanded by the consumer when price falls to ₹ 8 per unit​

Answer 1

Answer:

given that,

Q=20

P=10

Ed= 1

∆P=2

by proportionate method,

Ed=∆Q/∆P×P/Q

1=∆Q/2×10/20

∆Q=20/20

∆Q= 1

so, new quantity demanded= Q+∆Q

=20+1

=21 ans

Explanation:

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