Increase in price from Rs. 4 to Rs. 6 then decrease in demand from 15 units to 10 units. What is the price elasticity? (Point elasticity) A. 0.66 B. 5 C. - 1.5 D. 2
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- Initial price (\(P_1\)): Rs. 4 - Final price (\(P_2\)): Rs. 6 - Initial quantity demanded (\(Q_1\)): 15 units - Final quantity demanded (\(Q_2\)): 10 units Show more…
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