CBSE BOARD XII, asked by parminderkaur3743, 7 months ago

the price of a commodity increases from 8 to 9 its demand increases by 10% the price elasticity of demand for the commodity is

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Answered by Anonymous

Answer:

The price elasticity of demand is calculated as the percentage change in quantity demanded (110 - 100 / 100 = 10%) divided by a percentage change in price ($2 - $1.50 / $2). The price elasticity of demand, in this case, is 0.4. Since the result is less than 1, it is inelastic.

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