Question

If the price of a commodity increases by 10 percent and as a result, its quantity demanded decreases by 30 percent, what will be the value of Price elasticity of demand. ​

Answer 1

Answer:

the answer is 3

demand=30%

price=10%

price elasticity

of demand=demand changed/price changed

price elasticity of demand=30% / 10%=3

Explanation:

Answer 2

Answer:

the answer is 3

Explanation :

demand=30%

price=10%

price elasticity of demand=demand changed/price changed

• price elasticity of demand=30% / 10%=3

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