Answer:
\[Ed=\frac{\text{ }\!\!%\!\!\text{ }\,\,\text{change}\,\,\text{in}\,\,\text{quantity}\,\,\text{Demanded}}{\text{ }\!\!%\!\!\text{ }\,\,\text{change}\,\,\text{in}\,\,\text{price}}\] \[%\,\,\text{change}\,\,\text{in}\,\,\text{quantity}\,\,\text{Demanded}\,=\,\frac{{{Q}_{2}}-Q}{{{Q}_{1}}}\,\,\times \,\,100\] \[=\frac{500-400}{400}\,\,\times \,\,100\] = 25% \[Ed=\frac{25}{-20}=1.25\]
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