Question

Solve this question of economy please...[a consumer spends rupees 90 on a good priced at rupees 8 per unit when price rise 20 percent consumer continues to spend 90 rupees on good calculate ped]​

Answer 1

Explanation:

◆ The degree of responsiveness of quantity demanded to changes in price of commodity is known as price elasticity of demand.

◆ Price elasticity of demand is generally negative because of the inverse relationship between price and quantity demanded.

◆ If price changes, and quantity demand remains constant, ed = 0 and the result is known as perfectly inelastic demand.

◆ Demand curve of a product with unitary elastic demand is a rectangular hyperbola.

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Answer 2

Answer:

ped is price elasticity of demand..

delta p upon delta q into p upon q..

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