Find the Ed when price falls from 10 to 5 and quantity % doubles , ?
Answers
Answered by
9
Heya....
Ques :- When the price of the commodity falls from rs 10 to 5 , its quantity demand doubles , calculate its elasticity ??
Solution ____________
P = 10
P1 = 5
∆ P = P1 - P = 5-10 = -5
% change in price = ∆P/P X 100
= -5/10 X 100 = -50%
% change in Quantity demanded = 100
Now ____
Price elasticity is ___
- % change in Quantity demanded / % change in price
= - 100/-50 = 2 Answer
Thank you
Ques :- When the price of the commodity falls from rs 10 to 5 , its quantity demand doubles , calculate its elasticity ??
Solution ____________
P = 10
P1 = 5
∆ P = P1 - P = 5-10 = -5
% change in price = ∆P/P X 100
= -5/10 X 100 = -50%
% change in Quantity demanded = 100
Now ____
Price elasticity is ___
- % change in Quantity demanded / % change in price
= - 100/-50 = 2 Answer
Thank you
Answered by
1
Hello Friend..❤️❤️
Ans
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P=10
P1 = 5
∆P = P1 - P
=5-10 = (-5)
∆P/P×100
=(-5)/10×100
=-50%
Change of quantity is demand = 100
Price elasticity = -100/-50
=2
Thank you..☺️☺️
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