Homework Answers
11.Ans: d) 0.81
Explanation:
Initial price (P1 ) =$1.20
New price( P2 ) =$1.40
Initial quantity ( Q1) =150
New quantity (Q2) = 170
Es = 
= (( 170 - 150) / ( 1.40 - 1.20)) * (( 1.20 + 1.40) / (150 + 170))
= (20/ .20) * (2.60/ 320)
= 100 * 0.0081
= 0.81
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