if the price of the commodity falls from Rs. 8per unit to Rs. 5per unit the consumer & demand increase from 10units to 16units . what is the price elasticity of demand for the commodity
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E
d
=(−1)
Q
P
∗
ΔP
ΔQ
=(−)
10
5
∗
−1
2
=1
E
d
=1 Unitary elastic demand.
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