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The demand for good rises by 20% as a re...

The demand for good rises by 20% as a result of fall in its price. Its `P.e_(D)is (-) 0.8`. Calculate the percentage fall in price.

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`{:("% Change in Demand = 20% % Change in Price "=?%),(" Elasticity of Demand (ED) = "-0.8):}`
`(-)0.8=(20%)/("% Change in Price")`
Percentage fall in price = 25 %
Price for the goods will fall by 25 %
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