When price of a good falls by 10% its quantity demanded rises from 40 to 50 units calculate the price elasticity of demand by percentage method?

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A consumer wants to consume two goods. The prices of two goods are र 4 and र 5respectively. The consumer's income is र 20.Write down the equation of budget line.

The budget line equation is 'P1x1 + P2x2 = M' presuming two goods are x1and x2 and prices, P1 and P2 respectively. M represents money income. Thus budget line equation under given information is 4x1 + 5x2 = 20.