Question

Suppose the price of X rises from Rs. 3 per kg. to Rs. 5 per kg. and the quantity demanded decreases from 30 kgs. to 10 kgs. Then price elasticity of demand will be ____

Answer 1

explanation:-

Ed= Change in quantity/Change in price×Intial Price /Initial Quantity

answer:-

Es= 20/2*3/30 = 1

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