Question

The initial demand for a commodity is 80 unitsthe demand falls by 4 units due to rise in price by Rs 10 if the price elasticity of demand is 1.5 calculate the price before change in demand

Answer 1

Answer:300

Explanation:

Ped=change in demand÷original demand × original price÷change in price

1.5=4÷80 × original price÷10

Original price=300