The demand for tickets to an Ethiopian Kiya film is given by D (p) = 200,000- 10,000p, where p is the price of tickets. If the price of tickets is 12 birr, calculate price elasticity of demand for tickets and draw the demand curve
Answers
Answer:
ok
Explanation:
Ethiopian Camparada film
Explanation:
Given :
D(p)=200,000-10,000 p
Change in demand/change in price = -10,000
At price 12 Birr change demand units will be
D(p)= 200,000- 10,000 \begin{gathered}\times\\\end{gathered}
×
12
= 80,000 units
Elasticity in demand= Change in demand/ Change in price unit
= -10,000
Given :
D(p)=200,000-10,000 p
Change in demand/change in price = -10,000
At price 12 Birr change demand units will be
D(p)= 200,000- 10,000 \times× 12
= 80,000 units
Elasticity in demand= Change in demand/ Change in price unit
= -10000 \times \dfrac{12}{80000}−10000×
80000
12
= -1.5(approximately)
Therefore price elasticity of demand is -1.5
Price elasticity is a measure that refers to change in the % of quantity demanded due to % change in price.
As the price elasticity is negative it implies that as the price of the ticket increases demand will keep on falling.
\dfrac{12}{80000}
80000
12
= -1.5(approximately)
Therefore price elasticity of demand is -1.5
Price elasticity is a measure that refers to change in the % of quantity demanded due to % change in price.
Explanation:
don't now the answer sorry