When price of a good rises from ₹5 to ₹6 per unit, its demand falls from 20 units to 10 units. Compare the expenditure on the good to determine whether demand is elasic or inelastic

Explanation

`{:("Price (Rs.)","Quantity (in units)","Total Expenditure in Rs."("Price"xx"Quantity")),(" 5"," 20"," 100"),(" 6"," 10"," 60"):}`
Demand is highly elastic `(ED gt 1)` as total expenditure has decreased from Rs. 100 to Rs. 60 with an increase in the price from Rs. 5 to Rs. 6.
Demand is highly elastic `(ED gt 1)`.