The demand of a commodity X increases from 120 units to 200 units due to a decrease in
price of another commodity Y from Rs. 30 to Rs. 20. Calculate elasticity of demand
using average method
Answers
Answered by
0
Answer:
Ed =2
Explanation:
the quantity changed is the 80 units which is the 66% of 120 and the price change is rupees 10 which is 33% of 30 so percentage change in quantity divided by percentage change in price will be 66% / 33% so the elasticity of demand would be 2
Similar questions