The elasticity of demand for X is twice the elasticity of demand for Y. Price of X falls by 5% and Price of Y rises by 5% . What will be the % change in the quantity demanded of X and Y?
The elasticity of demand for X is twice the elasticity of demand for Y. Price of X falls by 5% and Price of Y rises by 5% . What will be the % change in the quantity demanded of X and Y?
The elasticity of demand for X is twice the elasticity of demand for Y. Price of X falls by 5% and Price of Y rises by 5% . What will be the % change in the quantity demanded of X and Y?
Suppose elasticity of demand for Y = 1 , and elasticity of demand for X will be = 2 So, % decrease in qt. demanded of Y will be 5% , because price rises by 5%, and % increase in qt. demanded of X will be 10% , because price falls by 5% .
The elasticity of demand for X is twice the elasticity of demand for Y. Price of X falls by 5% and Price of Y rises by 5% . What will be the % change in the quantity demanded of X and Y?
Answers
Bharat sharma
Suppose elasticity of demand for Y = 1 , and elasticity of demand for X will be = 2 So, % decrease in qt. demanded of Y will be 5% , because price rises by 5%, and % increase in qt. demanded of X will be 10% , because price falls by 5% .