The  qunantity demanded of a commodity at a price of  ₹ 8 per unit is 600 units. Its
Channel: Doubtnut
Date: 2020-05-03

The  qunantity demanded of a commodity at a price of  ₹ 8 per unit is 600 units. Its price falls by 25 per cent and the quantity demanded rises by 120 units. Calculate the price elasticity of demand . Is its demand elastic ? Give reason for your answer.