NAME: SYED SHAHZAIB ABID

CLASS: BS A&F 1-C

SUBJECT: ECONOMICS

ASSIGNMENT NO: 02

SUBMITTED TO: MAM AYESHA KHALID

DUE DATE: 28-03-2022

Question: Calculate ED and graph it.

Sol:
Formula:
ED=%Δ in QD
%Δ in P

FV-IV x100
FV+IV
%Δ in QD= 2____
%Δ in P FP-IP_ x100
FP+IP
2
Now Putting Values In Formula:
100-50_ x100
100+50
ED= 2___
4-5_ x100
4+5
2
 50_ x100
ED= 75__
-1_ x100
4.5

ED= 66.6_
-22.2

ED= -3 Ans.

Graph:

10 20 30 40 50 60 70 80 90 100 QD

Explanation:
Slight decrease in price increases the demand in the graph.