<p>We can graph a demand curve. We have (500, 2).
Price elasticity is the effect of change in price on quantity demanded:-
<a href="https://i.sstatic.net/RygwO.png" rel="nofollow noreferrer"><img src="https://i.sstatic.net/RygwO.png" alt="PED formula" /></a></p>
<p>The elasticity is -0.5, which means that the change in price has a lower effect on the quantity demanded. The apples' demand is said to be inelastic.
Draw a relatively inelastic demand curve that goes through the point (500,3)</p>
<p>Hope it helps :)</p>

CC BY-SA 4.0
2021-09-12T20:46:28.103Z
2021-09-12T20:46:28.103Z
Soham Phargade
<p>&quot;The price elasticity of apples is -0.5. When the price of apples is <span class="math-container">$2, consumers demand 500 apples a day. If the price of apples rises to $</span>3, how many apples will be demanded?&quot;</p>
<p>I really just need help setting up the equation using the point-slope method because I'm really stuck.</p>

<elasticity><price>
How would I calculate the quantity demanded of a product with price elasticity given and price change given?
Kayla
# How would I calculate the quantity demanded of a product with price elasticity given and price change given?

(Asked by: username_0 on 2021-09-11)

"The price elasticity of apples is -0.5. When the price of apples is $2, consumers demand 500 apples a day. If the price of apples rises to $3, how many apples will be demanded?"

I really just need help setting up the equation using the point-slope method because I'm really stuck.

**Tags:** elasticity, price


---

## 1 answers

### Answer by username_1 on 2021-09-12. Score: -1

We can graph a demand curve. We have (500, 2).
Price elasticity is the effect of change in price on quantity demanded:-
[![PED formula](https://i.sstatic.net/RygwO.png)](https://i.sstatic.net/RygwO.png)

The elasticity is -0.5, which means that the change in price has a lower effect on the quantity demanded. The apples' demand is said to be inelastic.
Draw a relatively inelastic demand curve that goes through the point (500,3)

Hope it helps :)


---

