The demand for commodity 'A' rises  by 20% due to fall in proce by ₹ 2 form the original
Channel: Doubtnut
Date: 2020-05-03

The demand for commodity 'A' rises  by 20% due to fall in proce by ₹ 2 form the original price of ₹8.  (i) Calculate elasticity of demand by 'Percentage Method'.  (ii) Whether demand of 'A' is elastic or inelastic ? Give reason for your answer.  (iii) What will be the shape of demand curve of A ?   (iv) If new demand of Commodity 'A' is 84 units , then calculate its original demand.