Question

A onsumer buys 10 units of a good at a price of rupees 9 per unit. At price of rupees 10 per unit she buys 9 unit what is the price elasticity of demand? use expenditure approach comment on the likely shape of the deman curve on the basis of demand of elasticity.​

Answer 1

Answer:

A onsumer buys 10 units of a good at a price of rupees 9 per unit. At price of rupees 10 per unit she buys 9 unit what is the price elasticity of demand? use expenditure approach comment on the likely shape of the deman curve on the basis of demand of elasticity.

Answer 2

Explanation:

As per the expenditure approach, when with a change in price, the total expenditure remains unchanged, demand is unitary elastic (eD= 1). The shape of demand curve will be rectangular hyperbola.

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