What is the formula for the price elasticity of demand for a good? Option 1: ( Q/Q) * (P/ P) Option 2: ( Q/Q) * ( P/P) Option 3: (Q_1-Q_2/Q_1) * (P_1-P_2/P_1) Option 4: (Q_2-Q_1/Q_2) * (P_2-P_1/P_2)

The answer is '( Q/Q) * (P/ P)'. View full solution:

CUET Economics - What is the formula for the price elasticity of demand for a good? | PYQs + Solutions

CUET Economics 2025 3 June Shift 2

Micro

Easy

$(\Delta Q/Q) * (P/\Delta P)$

$(\Delta Q/Q) * (\Delta P/P)$

$(Q_1-Q_2/Q_1) * (P_1-P_2/P_1)$

$(Q_2-Q_1/Q_2) * (P_2-P_1/P_2)$

✅ Correct Option: 1

Related questions:

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What will be elasticity of demand of a commodity when its price rises by 20% and quantity demanded falls from 125 units to 75 units?

31 May Shift 1

When the price elasticity of supply is equal to zero. Then..........

27 May Shift 2

Arrange the following statement of government intervention in the form of price control.

(A) The government sets floors or minimum prices for these goods and services.

(B) A fall in price below a particular level is not desirable.

(D) The government imposed a lower limit on the price.

Choose the correct answer from the options given below: