The Percentage change in demand is three times the percentage change in price. If
Channel: Doubtnut
Date: 2020-05-03

The Percentage change in demand is three times the percentage change in price. If original demand was 30 units at the price of ₹ 7 per unit, then calculate the price elasticity of demand, given price increased by 10% . Indicate whether the demand is elastic or not. Also calculate the new quantity demanded.