Price Elasticity of Demand Quiz (Numerical)

Price of a commodity rises from Rs 5 to Rs 6. As a result, its demand falls from 100 units to 80 units. Find out the price elasticity of demand by percentage method.

A consumer purchases 20 units of a commodity when its price was Rs 4 per unit. He purchased 30 units of it when its price fell to Rs 3 per unit. What is the price elasticity of demand for the commodity?

A household increases the demand for a commodity from 40 units to 50 units when its price falls by 10 per cent. What is the price elasticity of demand? Is it elastic or inelastic?

When price of a good is Rs15 per unit, the consumer buys 12 units of the good. When price rises to Rs 18 per unit, the consumer continues to buy 12 units. Calculate price elasticity of demand.

300 units of a commodity are demanded when its price is Rs 20 per unit. If price falls by 10 percent, its quantity demanded rises by 60 units. Calculate its price elasticity.

The price elasticity of demand is 2. If price change by 5 percent. What will be the percentage change is Quantity?

The price elasticity of demand is 0.5. The % change in quantity is 6. What is % change in price?

Price elasticity of demand of a good is (-)1. At a given price the consumer buys 60 units of good. How many units will the consumer buy if price balls by 10 per cent?

A fall in the price of a commodity by Rs 2 per units leads to an increase in quantity demanded by 10 units. Its price elasticity is (-)1, Calculated the quantity demanded at the initial price (before change) which Was Rs 10 per unit.

100 units of a good are demanded at the price of Rs 4 per unit. The price rises and as a result its demand falls to 75 units. The price elasticity of demand of that good is (-1). Find out the new price.