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 12%, the quantity demanded falls by 9.6%. Find the price elasticity of demand E.

%ΔP = +12%%ΔQ = −9.6%
E =
2.Easy
QPDQ1​P1​Q2​P2​

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

%ΔP = +10%%ΔQ = −8%
E =
3.Medium
QPD500€5.00200€6.50

When the price of a ticket changes from €5.00 to €6.50, weekly sales change from 500 to 200. Use the midpoint (arc) method to find the price elasticity of demand E.

P1 = €5.00P2 = €6.50Q1 = 500Q2 = 200
E =
4.Medium
QPD200€15.00110€19.00

When the price of a ticket changes from €15.00 to €19.00, weekly sales change from 200 to 110. Use the midpoint (arc) method to find the price elasticity of demand E.

P1 = €15.00P2 = €19.00Q1 = 200Q2 = 110
E =
5.Hard
QPD180€84.00

The (inverse) demand for a product is P = 120 − 0.2Q, with P in euros. Find the price elasticity of demand E when 180 units are sold.

P = 120 − 0.2QQ = 180
E =
6.Hard
QPDQ€23

The demand for a product is Q = 1500 − 50P, with P in euros. Find the price elasticity of demand E at a price of €23.

Q = 1500 − 50PP = €23
E =

Answer key

  1. 1. E = −0.8
  2. 2. E = −0.8
  3. 3. E = −3.286
  4. 4. E = −2.468
  5. 5. E = −2.333
  6. 6. E = −3.286

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