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The price of commodity is ₹ 15 per un...

The price of commodity is ₹ 15 per unit and its quantity demanded is 500 units. Its quantity demanded rises by 80 units as a result of fall in its price by 20 per cent. Calculate its price elasticity of demand. Is its demand inelastic ? Give reason for your answer.

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The price of a commodity is ₹ 10 per unit and its quantity demanded at this price is 500 units. If its quantity demanded rise by 75 units due to fall in price by 10 per cent, calculate its price elasticity of demand.

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