Price elasticity of demand worksheet with answers

Free printable Price elasticity of demand worksheet: 6 problems from easy to exam level, with an answer key. Print it or save it as a PDF.

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1.Easy
QPDQ1​P1​Q2​P2​

When the price of a product rises by 25%, the quantity demanded falls by 62.5%. Find the price elasticity of demand E.

%ΔP = +25%%ΔQ = −62.5%
E =
2.Easy
QPDQ1​P1​Q2​P2​

When the price of a product falls by 15%, the quantity demanded rises by 7.5%. Find the price elasticity of demand E.

%ΔP = −15%%ΔQ = +7.5%
E =
3.Medium
QPD1000€5.001480€3.50

When the price of a ticket changes from €5.00 to €3.50, weekly sales change from 1000 to 1480. Use the midpoint (arc) method to find the price elasticity of demand E.

P1 = €5.00P2 = €3.50Q1 = 1000Q2 = 1480
E =
4.Medium
QPD100€5.0020€7.50

When the price of a ticket changes from €5.00 to €7.50, weekly sales change from 100 to 20. Use the midpoint (arc) method to find the price elasticity of demand E.

P1 = €5.00P2 = €7.50Q1 = 100Q2 = 20
E =
5.Hard
QPDQ€12

The demand for a product is Q = 200 − 5P, with P in euros. Find the price elasticity of demand E at a price of €12.

Q = 200 − 5PP = €12
E =
6.Hard
QPDQP = ?

The demand for a product is Q = 1000 − 20P, with P in euros. At which price P is the price elasticity of demand equal to −0.25?

Q = 1000 − 20PE = −0.25
P = €

Answer key

  1. 1. E = −2.5
  2. 2. E = −0.5
  3. 3. E = −1.097
  4. 4. E = −3.333
  5. 5. E = −0.4286
  6. 6. P = 10 €

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