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2 answers:
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Answer:
Let, P = ₹ 10, P1 = ₹ 15
Q = 20 ,. Q1 = 25
∆Q = 5 ,. ∆P = 5
from Proportionate method :
Es → ∆Q/∆P × P/Q
→ 5/5 × 10/20
→ 1 × 1/2
→ 1/2 = 0.5
So, The the Es = 0.5 (Inelastic)
Answer:
Let, P = ₹ 10, P1 = ₹ 15
Q = 20 ,. Q1 = 25
∆Q = 5 ,. ∆P = 5
from Proportionate method :
Es → ∆Q/∆P × P/Q
→ 5/5 × 10/20
→ 1 × 1/2
→ 1/2 = 0.5
So, The the Es = 0.5 (Inelastic)