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ICSE Class 10 Answered

the price of a commodity goes up from 5 to 6 as a result of which,demand falls from 10 units to 8 units. calculate the price elasticity of demand  
Asked by Arham4716 | 22 Jun, 2019, 12:44: PM
answered-by-expert Expert Answer
Given:
 
P equals 5
increment P equals 6
Q equals 10 increment Q equals 8
 
bold italic E bold italic p bold equals bold minus bold space bold P over bold Q bold cross times fraction numerator bold increment bold Q over denominator bold increment bold P end fraction equals space 5 over 10 cross times 2 over 1 equals 1 bold italic E bold italic p bold equals bold 1
Answered by Christina | 23 Jun, 2019, 12:31: PM
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the price of a commodity goes up from 5 to 6 as a result of which,demand falls from 10 units to 8 units. calculate the price elasticity of demand  
Asked by Arham4716 | 22 Jun, 2019, 12:44: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
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