A consumer buys 40 units of a good at a price of 3 per unit When price rises to 4 per unit he buys 3...........

A consumer buys 40 units of a good at a price of 3 per unit. When price rises to? 4 per unit, he buys 30 units. Calculate Price Elasticity of Demand by Total Expenditure method. (3 marks)

Download Model Answer