Question

The price of elasticity of demand of x is- 1.25 it's price falls from ₹10to₹8 per unit calculate percentage change in its demand

Answer 1

Answer:

-1.25=% change in quantity demanded/%change in own price

-1.25=%change in quantity demanded×100/P1-P/P= 8-10/10=-2/5

-1.25=%change in quantity demanded

-1.25×-1/5=0.25= change in quantity demand ed