Question

Price elasticity of demand of good X is double the price elasticity of demand

of good Y. A 10 % rise in the price of good Y result in fall in its demand by

50 units. If original demand of commodity Y was 350, calculate percentage

rise in quantity demanded of good X when its price falls from ` 10 to ` 8 per

unit. ​

Answer 1

Explanation:

price rises and as a result its market demand falls to 75 units. ... What is the new price if price elasticity of demand is - 2 ? ... (Q10) Calculate the percentage fall in demand for a good whose price

Answer 2

The price elasticity of demand of good X si double the price elasticity of demand of Good Y . A 10% rise in the price of good Y results in fall in its demand by 60 units.