Answer :

Price elasticity of demand is -3


Price is Rs 10


Quantity is 100 units


Change in price is 50%


Ed = P/Q *Change in Q/Change in P


-3 = 10/100 * Change in Q / 50


-3 = Change in Q/500


Change in Q = 500*3 = 1500


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 :

What will be the Economics - Board Papers

Distinguish betweEconomics - Board Papers

When does ‘changeEconomics - Board Papers

A consumer consumEconomics - Board Papers

Define utility. EEconomics - Board Papers

Define demand. NaEconomics - Board Papers

When does ‘changeEconomics - Board Papers