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LoginThe demand for good rises by 20 percent as a result of all in its price. Its price elasticity of demand (-) 0.8. Calculate the precentage fall in price.
Class 12 Economics in Class 12 3 years ago
or `0.8 = (20)/("Percentage Change in Price")`
or, Percentage Change in Price `= (20)/(0.8) = 25%`
Thus, the percentage fall in the price 25%
Posted on 11 Dec 2021, this text provides information on Class 12 related to Economics in Class 12. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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