r

s'
s
D
y
1) Eql
PI - - - - - - - - - -
-1

p -

-1 YE9
- - - . -
- -

, I
É I

É ←
it
SI
i

I
I D
,

s ! !
o ✗
QI Q

Quantity
Y
g) •
B A- Possible
E- Not Possible
⇐ waste of resources
I
•
A

of
£ • C

0
Produce B
3) PE D= Percentage change in price / percentage change in
quantity demanded

step 1: change in Quantity demand

New QD Old Q D= 420-500=-80
-

¥÷=s¥oxoo%
=
16%

Step 2 change
:
in Price
New P Old F- 500-450
-

50
¥¥
=

50
-450×100%41 I % .

step 3 : PED

ftp.T = -1.44 ( PE D= Elastic)

4) Mixed Economic
-

System (2 or3 combined Government

-

and free market