A consumer buys 20 units of good at rs 10 per unit . When the price falls by 10% the demand rises to 22 . Find the price elasticity of demand. PLZZZ ANSWER FAST ITS URGENT
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Price Demand
10 20
Falls by 10% 22
delta QD= 2
delta QD/Q*100=10%
ED= 10/10=1
ED=1
10 20
Falls by 10% 22
delta QD= 2
delta QD/Q*100=10%
ED= 10/10=1
ED=1
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