Question

a consumer demands 40 units at the price of Rs 10 per unit price elasticity of demand is (-)1 how many units consumer will demand at the price of Rs 8 per unit​

Answer 1

Answer:

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Answer 2

Explanation:

$given$

$p = \: rs10$

$p _{1} = \: rs \: 8$

$delta \: p = p _{1} - p$

$= 8 - 10$

$= - 2$

$q = 40units$

$q _{1} = question \: mark$

$price \: elasticity \: of \: demand \: = (e _{d}) \\ = \frac{p}{q} \times \frac{delta \: p}{delta \: q}$

$- 1 = \frac{10}{40 } \times \frac{delta \: q}{ - 2}$

$delta \: q = 2$

$now$

$delta \: q = q _{1} - q$

$2 = q _{1} - 40$

$q _{1} = 40 + 2$

$consumer \: will \: buy \: 42 \: units \: at \: a \: price \: of \:$

$rs.8 \: per \: unit$