Please somebody solve 72nd question
Please somebody solve 72nd question entaqe
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is (a) Zero. (b) —1. (c) -2.
or the two goods X and Y are zero and (—) 1 respectively. Which of the two
6 Price elasticity o e
is more elastic and why?
{Y is more elastic than X because ' % charve in price of good Y leads to 1 % change in
quantity demanded. while % change in good X has no effect on demand of good X)
70. Price of a commodity falls from 20 to 15 per unit. Its demand rises from 600 units to 750 units.
Calculate its price elasticity of demand.
{Price Elasticity of Demand (Ed) =
71. The demand curve for the commodity is given as DX = 10 + 2P. If slope of the demand curve is (—2),
calculate price elasticity of demand for the commodity when the price Of the commodity is 5 per uni
{Ed = O. 125}
72. The demand curve of a commodity is expressed as DX = 20— 2P. If slope of the demand curve is given
to be (—2), calculate price elasticity of demand for the commodity when demand is 10 units.
= 0.25}
73. Price of a commodity falls from 40 to 30 per unit. Quantity demanded initially was 60 units. By how
much the quantity will rise if elasticity of demand is established to be unitary?
{15 units}
74. When priceof a commodity X falls by 10 per cent, its demand rises from 150 units to 180 units. Calculate
its price elasticity of demand. How much should be the percentage tall in its price so that its demand
rises from 150 to 210 units?
{Price Elasteity of (—) 2: Percentage fall in price = 20%)
• When the price of a good rises from 10 per unit to 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 10 per unit to 13 per unit?
{Price Elasticity ot Demand = (—) t ; Percentar fall in Qnntity Demanded =