Question

The Price Elasticity of a Commodity is (-) 1.5. When its price falls by Rs 1 per unit, its quantity demanded rises by 3 units. If the quantity demanded before the price change was 30 units, what was the price at this demand? Calculate.

Answer 1

Answer:

In △ABC AB=AC

⇒∠B=∠C (Angles opposite to equal sides are equal)

Now using angle sum property

∠A+∠B+∠C=180

∘

⇒80

∘

+∠C+∠C=180

∘

⇒2∠C=180

∘

−80

∘

⇒∠C=

2

100

∘

=50

∘

now ∠C+∠x=180

∘

(Angles made on straight line (AC) are supplementary)

⇒50

∘

+∠x=180

∘

⇒∠x=180

∘

−50

∘

=130

∘

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