When the price of good rise from Rs 10 per unit to Rs 12 per unit its quantity demanded falls by 20 percent Calculate its price elasticity of demand How much would be the percentage change in its quantity demanded if the price rises from Rs 10 per unit to Rs 13 per unit CBSE Economics class 12 2017

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When the price of good rise from Rs 10 per unit to Rs 12 per unit, its quantity demanded falls by 20 percent. Calculate its price elasticity of demand. How much would be the percentage change in its quantity demanded, if the price rises from Rs 10 per unit to Rs 13 per unit? - CBSE Economics class 12 2017

Appeared in CBSE economics class 12, 2017, All India, Set 1 paper


By:Aparna-Dasgupta

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Answers

Initial Price (P0) = Rs 10
Final Price (P1) = Rs 12
Percentage change in quantity demanded = -20

% Change in Demand 30 
Hence, demand falls by 30% when price rises from Rs 10 to Rs 13 per unit.


milan-ransingh

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