Question

CHAPTER :

Theory Of Consumer Behaviour

TOPIC :

Elasticity of Demand

CLASS : 12 ( Microeconomics )

QUESTION :

Consider the demand curve D (p) = 10-3p.
What is the elasticity at price 5/3 ?

NO SPAMING PLZ.

Answer 1

 hiiii dear________❤️❤️❤️

good evening____________✌️✌️✌️✌️

_____________________

___________

______________________________





Given, 


Demand curve D(P) = 10 – 3p ,

 Price (P) = 5/3


ed =-bp/a-bp

= (-3×5/3) / (10-3×5/3)


= -5/5

ed =-1

Answer 2

$\huge\tt\red{A}\tt\pink{N}\tt\blue{S}\tt\green{W}\tt\purple{E}\tt\orange{R}$

D(p) = 10 – 3p b = ΔQ/ΔP = 3 p = 5/3 or D (5/3)= 10 - 3x5/3 Q = 10-5 =5 ed = ΔQ/ΔP x P/Q = -3 x (5/3)/5 ed= -1 i.e., the elasticity of demand at price p = 5/3 is unitary elastic.

$\huge \fbox \red{❥ႭᎢᏢꕯᎬᎬ}$