Question

when the price of a good falls from ₹10 to ₹8 it demand rises from 20 units to 24 units . find out the price elasticity of demand​

Answer 1

Answer:

0.8 , relatively inelastic

Explanation:

p= 8 , q= 20

∆p = 2 , ∆q = 4

formula = ∆q/∆p* p/q

= 4/2*8/20

= 4/5

= 0.8

Answer 2

Explanation:

hope it will help you.....