Answer:
Price, P = Rs. 20, TR = Rs. 100 \[\therefore \] Quantity demanded, \[Q=\frac{TR}{P}=\frac{100}{20}=5\] Price, \[{{P}_{1}}=\]Rs 30, TR = Rs 300 \[\therefore \] Quantity demanded, \[{{Q}_{1}}=\frac{TR}{P}=\frac{300}{30}10\] \[\Delta P={{P}_{1}}-P=\,\,Rs\,\,30\,\,-\,\,Rs\,\,20\,\,=\,\,Rs\,\,10\] or \[\Delta Q={{Q}_{1}}-Q=\,\,10\,\,-\,\,5\,\,=\,\,5\,\,\text{units}\] \[\therefore \] \[{{E}_{s}}=\frac{\Delta Q}{\Delta P}\,\,\times \,\,\frac{P}{Q}=\frac{5}{10}\,\,\times \,\,\frac{20}{5}=2\]
You need to login to perform this action.
You will be redirected in
3 sec