As the price of the commodity decrease from Rs 8 to Rs 4 the quantity demanded increase from 10kg to 15kg respectively. what is the magnitude of price elasticity of demand?
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heya user!
here is ur answer.....Ep=1
hope this help! ^_^
here is ur answer.....Ep=1
hope this help! ^_^
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Arc elasticity of demand 8+4/10+15 . 15-10/4-8= -12/25.5/4= -3/5.
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