Question

The total revenue of a firm increase from Rupees 50-120. When price rises from 5-10. Calculate price elasticity.

Answer 1

$\huge\tt{AnsweR}$

$\sf {R = P × Q50}$

$\sf{= 5 × Q10 = Q}$

$\sf{= es = Q / P × P / Q}$

$\sf{= 0 / 5 × 5 / 10}$

$\sf{= 0 / 15= 0R1}$

$\sf{= R1 × Q1100}$

$\sf{= 10 × Q110 = Q1}$