Question

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Question -:

A consumer spends ₹;60 on a good priced at ₹;5 per unit. When price falls by 20%,the consumer continues to spend ₹;60 on the good. Calculate price elasticity of Demand.
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Answer 1

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Heya! ♥️

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Question -:

A consumer spends ₹;60 on a good priced at ₹;5 per unit. When price falls by 20%,the consumer continues to spend ₹;60 on the good. Calculate price elasticity of Demand.

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Answer 2

The correct answer is-

The correct answer is-A consumer spends ₹ 60 on a good priced at ₹ 5 per unit. When price falls by 20 per cent, the consumer continues to spend ₹ 60 on the good.