Suppose the price of an ice-cream is Rs 40 per cup and the quantity demanded is 1 cup. If the price falls to Rs 20 per cup, the demand increases to 4 cups. Find price elasticity of demand using percentage method.
Answers
Answered by
1
as the price decrease Rs 20 per cup then the price will be Rs 20
price on 1 cup after reduction=40-20
20
price of 4 cups =20*4
=80
Similar questions