Question

the demand for good X and Y have equal price elasticity of demand of X Rises from hundred units to 200 units due to a 20% fall in its price calculate the percentage rise in demand of Y if its price Falls by 8%

Answer 1

Answer:

The demand of X rises from 100 units to 250 units due to a 20 per cent fall in its price. Calcualte the percentage rise in demand of Y, if its price falls by 8 per cent.