Question

If the change of goods from Rs 30 to 45 per unit causes to change the demand quantity from 500 to 450 units per week in a market , find the price elasticity of the goods and interpret the outcome.

Answer 1

Answer:

If the change of goods from Rs 30 to 45 per unit causes to change the demand quantity from 500 to 450 units per week in a market , find the price elasticity of the goods and interpret the outcome