Question

A consumer buys 200 units of a good at a price of Rs.5 per unit.With change in price, he buys only 100 units.If the price elasticity is (-)1,find out the changed price

Answer 1

Answer:

price will be 10rs.

Explanation:

because he was able to buy 200units at price of 5rs, but he was able to buy half units means 100 units that tells that the price has been doubled.