Question

the price elastic of demand of goods X is half price elastic of demand of good Y. a 25% rise in the price of goods Y reduce its demand from 400 unit to 300 unit. calculate percentage rise in the demand in good X .when it's price fall from rupees 10 to rupees 8 per unit​

Answer 1

Answer:

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Explanation:

The price elasticity of demand of good X is half the price elasticity of demand of good Y. A 25% rise in the price of good Y reduces its demand from 400 units to 300 units. ... Now,price Elasticity of Good X= (-) 0.5 (as elasticity of demand of good X is half the price elasticirty of demand of Good Y) .

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