Question

A consumer spends Rs 400 on a Good price at rs8 per unit
when it price rise by 25%. the consumer spends
* 500 on the Good Calculate Ed by percentage method​

Answer 1

Answer:

Given

actual total expenditure (TEo) = Rs.400

change total expenditure (TE1) =Rs.500

actual price (P0) =Rs. 8

℅ change in price = +25

% change in price = p1-p0 divide by p0 x100

25=p1-8 by8 x100

200/100 = P-1-8

P1= 10

therefore,

• price(P) : p0=rs 8 ,p1=rs 10
• total expenditure(TE)= price x quantity TE0=rs 400 ,TE1=rs 5
• quantity: Q= TE/P Q0=50, Q1= 50

therefore,

Ed=(-) percentage change in quantity demanded by percentage change in price

Ed=(-) %in demand by actual demand x 100 by -25

Ed = Q1-Q0 by Q0 x100 by 25

Ed= (-) 50-50by50 x 100 by 25

Ed= 0

therefore the price is zero.

Answer 2

Answer:

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