Q. 95.0( 1 Vote )

a. Arrange the fo

Answer :

Price elasticity of demand is the measure of the responsiveness of demand after a change in the goods’ own price.

The coefficient of price elasticity =% change in quantity demanded/% change in price


Therefore, -0.3,-0.7,-0.8,-1.1


b


Measurement of Price Elasticity of Demand= percentage change in Quantity demanded/percentage change in price


=(100-50)18/(18-13) 50=3.6


Rate this question :

How useful is this solution?
We strive to provide quality solutions. Please rate us to serve you better.
Try our Mini CourseMaster Important Topics in 7 DaysLearn from IITians, NITians, Doctors & Academic Experts
Dedicated counsellor for each student
24X7 Doubt Resolution
Daily Report Card
Detailed Performance Evaluation
caricature
view all courses
RELATED QUESTIONS :

(a) Define price Economics - Board Papers

If the market supEconomics - Board Papers

Will a profit-maxNCERT - Introductory Microeconomics

How does an increNCERT - Introductory Microeconomics