Business, 26.08.2020 23:01 4004JuCh18

Price elasticity of demand of a commodity is – 0.5. Its quantity demanded falls by 5 units when its price rises by Rs1/unit. Calculate the quantity demanded if the price before the change is Rs. 5/unit.

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Price elasticity of demand of a commodity is – 0.5. Its quantity demanded falls by 5 units when its...