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CBSE Class 11-commerce Answered

A certain quantity of the commodity is purchased when its price is ₹10 per unit.quantity demanded increases by 50 per cent in response to a fall in price by ₹2 per unit.find elasticity of demand   
Asked by adi.ansari309 | 27 Jan, 2020, 08:36: PM
answered-by-expert Expert Answer
Percentage change in quantity demnaded is given as 50%
P e r c e n t a g e space c h a n g e space i n space p r i c e space equals space fraction numerator increment P over denominator P end fraction cross times 100
space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space equals space fraction numerator negative 2 over denominator 10 end fraction cross times 100 space equals space left parenthesis negative right parenthesis space 20 percent sign
E l a s t i c t y space o f space d e m a n d space equals space fraction numerator P e r c e n t a g e space c h n a g e space i n space q u a n t i t y space d e m a n d e d space over denominator P e r c e n t a g e space c h a n g e space i n space p r i c e space end fraction
space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space equals space fraction numerator 50 percent sign over denominator 20 percent sign end fraction
space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space equals space 2.5
Answered by Christina | 28 Jan, 2020, 10:49: AM
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