Question

for a commodity delta p divided by p is = -0.2 and ep is -0.6 find percent in ed​

Answer 1

Explanation:

Percentage change in price =

P

△P ×100=−0.2×100=(−)20 per cent

Elasticity of demand (E d )=

Percentagechangeinprice

Percentagechangeinquantitydemanded

−0.6 =

−20%

Percentagechangeinquantitydemanded

Percentage change in quantity demanded =(−)0.6×(−)20 per cent=12per cent

Percentage change in quantity demanded=12%

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