Economy, asked by riananwani1510, 8 months ago

The price if commodity is rupees 10 per unit and its quantity demanded at this price is 500 units. If its quantity demanded rises by 75 units due to fall in price by 10 percent, calculate its price elasticity of demand

Answers

Answered by shalugarg68

Answer:

Thank you for this question. Please find the answer below

explanation

Keeping in view that; a ten percent rise in the price of good y results in fall in its demand by 60 units if original demand of good y was 400; the percentage quantity demanded of the good x when its price falls from rs 10 to Rs. 8 per units is 60 percent.

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