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If price of an article decreases from P1 to Rs 25, quantity demanded increases from 900 units to 1200 units. If point elasticity of demand is 2 find P1?
- ARs. 20
- BRs. 30
- CRs. 35
- DRs. 15
Answer not set
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0
CCommunity
Point Elasticity Demand $ \large= \frac{P}{Q} \times \frac{\delta Q}{\delta P} $
$ \large - 2 = \frac{P1}{900} \times \frac{1200 - 900}{25 - P1} $
$ \large -2 = \frac{P1}{75 - 3P1}$
$ \large -150 + 6P1 = P1 $
$ \large P1 = 30 $
$ \large - 2 = \frac{P1}{900} \times \frac{1200 - 900}{25 - P1} $
$ \large -2 = \frac{P1}{75 - 3P1}$
$ \large -150 + 6P1 = P1 $
$ \large P1 = 30 $
0
CCommunity
30