Price elasticity of demand of a good is (-) 2. At a price of Rs. 10 per unit 40 units of this good are bought . How units will be bought at a price of Rs. 11 per unit ? Calculate.
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A consumer buys 80 units of a good at a price of Rs. 4 per unit . When the price falls , he buys 100 If price elasticity of demand is (-) 1, find out
`E_(p)=(P)/(Q)xx(DeltaQ)/(DeltaP)` `(-)1=(40)/(80)xx(20)/(DeltaP)` `(-)1=(1)/(DeltaP)` `DeltaP=-1` New price `=P+DeltaP=4+(-1)=Rs.3`.
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A consumer busy 40 units of a commodity at a price of Rs. 5 per unit and his price elasticity of demand is (-) 1.5 . Calculate the amount he will buy
`E_(P)=(P)/(Q)xx(DeltaQ)/(DeltaP)` `(-)1.5=(5)/(40)xx(DeltaQ)/(-1)` `DeltaQ=12` New `Q=Q+DeltaQ=40+12=52` units . Note : In this problem , we have taken minus sing into consideration both in case of `E_(P) and DeltaP`.
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When price of a good falls by 10 percent , its quantity demanded rises from 40 units to 50 units. Calculate price elasticity of demand by the percenta
`E_(P)=(%" change in Qty . Demanded")/(% " change in price")=((10)/(40)xx10)/(-10)=(25)/(-10)=(-)2.5`
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Price elasticity of demand of a good is (-) 1. At a given price the consumer buys 60 units of the good . How many units will the consumer buy if the p
`E_(P)=(% "change in " Q_(d))/(% " change in P")` `(-)1 =(% " change in " Q_(d))/(-10%)` `:.% "change in " Q_(d)=+10%`. Demand after price falls `=Q+10% " of " Q=60+...
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Price elasticity of demand of a good is (-)2. The consumer buys a certain quantity of this good at a price of Rs. 8 per unit . When the price falls he
`E_(P)=(% "change in " Q_(d))/(% " change in P")` `(-)2=(50%)/(% " change in P")` `%` Change in P `=(50)/(-2)=-25%` New `P=P+%` change in P `=8+(-25% " change of " 8)...
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When price of a good is Rs. 13 per units , the consumer buys 11 units of that good . When price rises to Rs. 15 per unit , the consumer continues to b
`E_(P)=(P)/(Q)xx(DeltaQ)/(DeltaP)=(13)/(11)xx(0)/(2)=0`
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When price of a good is Rs. 7 per unit a consumer busy 12 units . When price fails to Rs. 6 per unit he spends Rs. 72 on the good . Calculate price el
`{:(" Price"," Demand"),(" " 7," "12),(" "6," "(72)/(6)=12):}` `E_(P)=(P)/(Q)xx(DeltaQ)/(DeltaP)` `=(7)/(12)xx(0)/(-1)=0` The demand curve is parallel to the y- axis.
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Price elasticity of demand of a good is (-)1 . When its price falls by one rupee , its demand rises from 16 to 18 units . Calculate the price before c
`E_(P)=(P)/(Q)xx(DeltaQ)/(DeltaP)` `(-)1=(P)/(16)xx(2)/(-1)` `2P=16orP=8(Rs.)`.
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When price of a commodity X falls by 10 percent , its demand rises from 150 units to 180 units. Calculate its price elasticity of demand . How much sh
`E_(P)=(% " change in " Q_(d))/(% " change in P")=((30)/(150)xx100)/(-10)=(-2)` `-2=((60)/(150)xx100)/(%" change in price")` `%` change in Price `=(60)/(150)xx100xx(1)/(-2)=-20%`.
2 Answers 1 views
Price elasticity of supply of a good is 5 . A producer sells units 500 units of this good at Rs.5 per unit . How much will be willing to sell at Rs. 6
`E_(s)=(P)/(Q)xx(DeltaQ)/(DeltaP)` `5=(5)/(500)xx(DeltaQ)/(1)` `DeltaQ=500` New `Q=Q+DeltaQ=500+500=1000` units
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