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ICSE Class 10 Answered

the price of milk rises from rupees 26 to rupees 30 per litre and it's demand falls from four liters per day to two liters per day.  Calculate the elasticity of demand for milk.     
Asked by Khushigarkoti | 10 Mar, 2020, 12:59: PM
answered-by-expert Expert Answer
Price Quantity
26  4
30 2
 
Ed = fraction numerator increment Q over denominator increment P end fraction cross times P over Q
Given
increment Q space equals space 2 Q equals 4 increment P space equals space 4 P space equals space 26 E d space equals space 2 over 4 cross times 26 over 4 E d space equals space 3.25 E d greater than 1
Answered by Christina | 11 Mar, 2020, 09:49: AM
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