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 10%. Find the price elasticity of demand E.

%ΔP = −25%%ΔQ = +10%
E =
2.Easy
QPDQ1​P1​Q2​P2​

When the price of a product falls by 10%, the quantity demanded rises by 8%. Find the price elasticity of demand E.

%ΔP = −10%%ΔQ = +8%
E =
3.Medium
QPD1200€8.001650€6.50

When the price of a ticket changes from €8.00 to €6.50, weekly sales change from 1200 to 1650. Use the midpoint (arc) method to find the price elasticity of demand E.

P1 = €8.00P2 = €6.50Q1 = 1200Q2 = 1650
E =
4.Medium
QPD500€5.00600€2.50

When the price of a ticket changes from €5.00 to €2.50, weekly sales change from 500 to 600. Use the midpoint (arc) method to find the price elasticity of demand E.

P1 = €5.00P2 = €2.50Q1 = 500Q2 = 600
E =
5.Hard
QPDQ€45

The demand for a product is Q = 480 − 8P, with P in euros. Find the price elasticity of demand E at a price of €45.

Q = 480 − 8PP = €45
E =
6.Hard
QPDQP = ?

The demand for a product is Q = 480 − 8P, with P in euros. At which price P is the price elasticity of demand equal to −2?

Q = 480 − 8PE = −2
P = €

Answer key

  1. 1. E = −0.4
  2. 2. E = −0.8
  3. 3. E = −1.526
  4. 4. E = −0.2727
  5. 5. E = −3
  6. 6. P = 40 €

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