1. Soft Skills Courses
  2. EEC-11
  3. Unit-4
unit-4-demand-function-and-elasticity

Unit-4 Demand Function and Elasticity

In this unit we will be focussing on the consumer’s demand function for a good .

When price is Rs.10 the demand for the good is 100 unit, and the price elasticity of demand is 1.5, what will happen to demand when price fall by ten percentage points?




< Back To All Answers

Answer

{{currentAnswer.user.userName}}

Written on {{ansDate()}}

{{trustHtmlContent(currentAnswer.answerContent)}}

Learning Pundits Content Team

Written on Jun 26, 2019 6:14:03 PM

Price falls by ten per cent, demand increases by 15 percent. Demand is said to be elastic, elasticity greater than unity.