Price Elasticity of Demand of a good

CBSE Class 12 CBSE Class 12 Economics
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1

Price Elasticity of Demand of a good is (-) 0.75. Calculate the percentage fall in its price that will result In 15% rise in its demand.

2

Ef=Percentage Change in Quantity Demanded/ Percentage Change in price

Percentage Change (fall) in Price =15/0.75 = 20%