uuuuu umwel Questions Number 30-35.
XYZ are three commodities where X and Y are complements whereas X and Z are substitutes. A
shopkeeper sells commodity X at Rs. 40 per piece. At this price he is able to sell 100 pieces of X per
month. After some time he decreases the price of X to Rs. 20. Following the price decrease:
He is
able to sell 150 pieces of X per month The demand for Y increases from 25 units to 50 units. The
demand for commodity Z decreases from 150 to 75 units.
what can be price elastricity of demand for x?
Answers
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0
Answer:
0.6
arc elasticity=Q1-Q2/P1-P2 × P1+P2/Q1+Q2
= 100-150/40-20 × 40+20/100+150
= -50/20 ×60/250
= -2.5 × 0.24
= 0.6
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