Answer:
Percentage change in price=10% (a) \[{{E}_{d}}\]=0 \[{{E}_{d}}=\frac{\text{Percentage}\,\,\text{change}\,\,\text{in}\,\,\text{quantity}\,\,\text{demanded}}{\text{Percentage}\,\,\text{change}\,\,\text{in}\,\,\text{price}}\] 0 = percentage change in quantity demanded \[\div \,10\] Percentage change in quantity demanded is 0. (b) \[{{E}_{d\,\,}}=\,\,-1\] \[{{E}_{d}}=\frac{\text{Percentage}\,\,\text{change}\,\,\text{in}\,\,\text{quantity}\,\,\text{demanded}}{\text{Percentage}\,\,\text{change}\,\,\text{in}\,\,\text{price}}\] \[1\]= percentage change in quantity demanded \[\div \,10\] Percentage change in quantity demanded is \[10%\] (c) \[{{E}_{d}}=-2\] Ed = Percentage change in quantity demanded \[\] Percentage change in price \[2\]= Percentage change in quantity demanded \[\div \,10\] Percentage change in quantity demanded is \[20%\]
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