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Theory of consumer behaviour — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsTheory of consumer behaviour4 Marks
Question
When price of a commodity falls by ₹ $1$ per unit, its quantity demanded rises by $3$ units. Its price elasticity of demand is $(-)2$. Calculate its quantity demanded if the price before the change was ₹ $10$ per unit.
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Answer

PED = [-]2 Given
Price before change [Initial Price] $P = 10$
Initial Quantity $(Q) = ?$
New Price $(P_1) = 9$
New Quantity$ (Q_1) = ?$
$\Delta\text{P} = -1$ [Given]
$\Delta\text{Q} = 3$
$\text{PED}=\frac{\Delta\text{Q}}{\Delta\text{P}}\times\frac{\text{P}}{\text{Q}}$
$(-)2=\frac{3}{(-)1}\times\frac{10}{\text{Q}}$
$\text{Q}=\frac{30}{2}=15$
So, the quantity demanded at price before change [P], i.e., $10$, is equal to $15.$

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