Answer:
Here, Price Elasticity of Demand\[({{E}_{d}})=2\] Percentage change in quantity demanded =1% Percentage change in price =? \[{{E}_{d}}=\frac{Percentage\,Change\,in\,Quantity\,Demanded}{Percentage\,Change\,in\,\Pr ice}\] \[2=\frac{1}{Percentage\,Change\,in\,\Pr ice}\] \[\Rightarrow \]Percentage change in price\[=\frac{1}{2}\] or 0.5%
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