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प्रश्न
The price elasticity is 2. The percentage change in price is equal to 5. Find the percentage change in quantity.
संख्यात्मक
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उत्तर
Elasticity Coefficient = 2
% Change in Price = 5%
% Change in Quantity = Let this be X
Elasticity = `("% Change in Quantity")/("% Change in Price")`
2 = `X/5%`
X = 2 × 5%
= 10%
The percentage change in quantity is 10%.
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