(a) -0.53, -0.80, -0.87,- 3.1 (minus sign only represents the inverse relation between price and quantity demanded)
(b)
| Price (in Rs.) | Quantity (in units) |
| Original = 28 | Original = 50 |
| New = 23 | New = 100 |
Ed = (Change in Quantity Demanded)/(change in price) x (Original Price)/(Original Quantity)
= 50/5 x 28/50
= 5.6 (Ed>1, relatively more elastic demand.)