Question

When the price of a commodity is Rs. 20 per unit, its quantity demanded is

800 units. When its price rises by Rs. 5 per unit, its quantity demanded falls

by 20 percent. Calculate its price elasticity of demand. Is its demand elastic?

Give reasons for your answer.

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Answer 1

Explanation:

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Answer 2

NO,

This is not Elastic Demand .

This is an Inelastic Demand, as it's shows {Ed<1}