Q.2 A consumer increases the demand for a commodity from 100 units to 110 units when its
price falls by 10 percent. What is the price elasticity of demand ? Is it elastic or inelastic?
Sol. Suppose the initial price is 100.
Price falls by 10%.
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Answer:
yes.......................................................................................
Answered by
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Explanation:
110×10/100=11mmmljsh
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