Question

the demand by a consumer of a commodity declines by 10% when its price increases by RS.5 to Rs.6 per unit.what is the price elasticity of demand?​

Answer 1

Answer:

% change in Qd = -10%

P=5, P2= 6

now % change in price =∆P÷P*100=1÷5*100=20

Ed=% change in Qd÷% change in price

-10÷20=(-)0.5

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Answer 2

Answer:

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