The price elasticity of demand of x is known to b twice that of good y
The price of good x falls by five percent while that of good y rises by five percent
Wat s percentage change in quantities of x and y??

Question

The price elasticity of demand of x is known to b twice that of
good y
The price of good x falls by five percent while that of good y
rises by five percent
Wat s percentage change in quantities of x and y??

Prince Verma · Accepted Answer

Let, Price elasticity of demand of good Y = 1then Price elasticity of good X = 2Ey = Percentage change in quantity demanded of Ypercentage change in price of Y   1     = Percentage change in quantity demanded of Y5Percentage change in quantity demanded of Y = 5Ex = Percentage change in quantity demanded of X52 = Percentage change in quantity demanded of X5Percentage change in quantity demanded of X = 10

The price elasticity of demand of x is known to b twice that of good y The price of good x falls by five percent while that of good y rises by five percent Wat s percentage change in quantities of x and y??

The price elasticity of demand of x is known to b twice that of good y
The price of good x falls by five percent while that of good y rises by five percent
Wat s percentage change in quantities of x and y??