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Ch-4 Elasticity of Demand

This document contains homework questions from Vishwa Bharati Public School on the topic of price elasticity of demand. It includes short answer, long answer and unsolved practical questions related to calculating price elasticity of demand using percentage change and unitary methods when given various price changes and resulting quantity changes.

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Anil Kumar Singh
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31 views

Ch-4 Elasticity of Demand

This document contains homework questions from Vishwa Bharati Public School on the topic of price elasticity of demand. It includes short answer, long answer and unsolved practical questions related to calculating price elasticity of demand using percentage change and unitary methods when given various price changes and resulting quantity changes.

Uploaded by

Anil Kumar Singh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Vishwa Bharati Public School

CH-4 (Elasticity of Demand)


Homework Questions (Sandeep Garg)

Short Answer Questions:


Q1. What is price elasticity of demand.

Long Answer Question

Q3. Discuss the various factors that affect price elasticity of demand.

Unsolved Practicals

Q12. Market Demand for a good at price of Rs 10 per unit is 100 units. When its price changes , its

Market demand falls to 50 units. Find out the new price, if the price elasticity of demand is

(-2) .

Q15. Price of the commodity decreases from Rs 10 to Rs 5 per unit. If the price elasticity of demand

is 3 and original quantity demand is 40 units.

Q17. Price elasticity of demand for a commodity is unity and a household demands 50 units of it

when its price is Rs 2 per unit. At what price the household demands 45 units of a commodity?

Q19. When the price of the commodity falls by Rs 1 per unit, its quantity demanded rises by 3 units.

Its price elasticity of demand is (-) 2. Calculate original quantity demanded if the price before

change was Rs 10 per unit.

Q24. At a price of Rs 20 per unit, the quantity demanded of a commodity is 300 units. If the price

falls by 10 units, its quantity demanded rises by 60 units. Calculate price elasticity.

Q26. The household increases its demand for a commodity from 40 to 50 units when its price falls

by 10%. What is the price elasticity of demand for the commodity?

Q28. A consumer spends Rs 80 on a commodity at a price of Rs 1 per unit and Rs 100 at a price of Rs

2 per unit. What is the price elasticity of demand?


Q31. The price elasticity of demand of good X is double the price elasticity of demand of

good Y. A 10% rise in price of good Y result in fall in its demand by 60 units. If the original

demand of the commodity was 400. Calculate rise in quantity demanded of good X when its

price falls from Rs 10 to Rs 8 per unit.

Q46.The price of commodity is Rs 20 per unit and total expenditure on it is Rs 1,000. When the price

falls to Rs 18 per unit, total expenditure increases by 8 per cent. Calculate it’s price elasticity of

demand by percentage method.

Q64. A consumer spends Rs 60 on a good priced at Rs 5 per unit. When the price falls by 20 per cent ,
the consumer continues to spend Rs 60 on the good. Calculate price elasticity of demand by
percentage method.

Q66. A consumer spends Rs 1000 on a good priced at Rs 10 per unit . When the price falls by 20
percent, the consumer spends Rs 800 on the good. Calculate price elasticity of demand by
Percentage Method.

Q72. The demand curve of a commodity is expressed as Dx=20-2P. If the slope of demand curve is
given to be (-2) .Calculate price elasticity of demand for the commodity when demand is 10 units.

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