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 falls by 25%, the quantity demanded rises 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 20%, the quantity demanded rises by 30%. Find the price elasticity of demand E.

%ΔP = −20%%ΔQ = +30%
E =
3.Medium
QPD500€12.00830€2.00

When the price of a ticket changes from €12.00 to €2.00, weekly sales change from 500 to 830. Use the midpoint (arc) method to find the price elasticity of demand E.

P1 = €12.00P2 = €2.00Q1 = 500Q2 = 830
E =
4.Medium
QPD800€5.001180€3.50

When the price of a ticket changes from €5.00 to €3.50, weekly sales change from 800 to 1180. Use the midpoint (arc) method to find the price elasticity of demand E.

P1 = €5.00P2 = €3.50Q1 = 800Q2 = 1180
E =
5.Hard
QPDQP = ?

The demand for a product is Q = 320 − 4P, with P in euros. At which price P is total revenue as large as possible?

Q = 320 − 4P
P = €
6.Hard
QPDQP = ?

The demand for a product is Q = 2000 − 25P, with P in euros. At which price P is total revenue as large as possible?

Q = 2000 − 25P
P = €

Answer key

  1. 1. E = −2.5
  2. 2. E = −1.5
  3. 3. E = −0.3474
  4. 4. E = −1.088
  5. 5. P = 40 €
  6. 6. P = 40 €

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