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 7.2%. Find the price elasticity of demand E.

%ΔP = +12%%ΔQ = −7.2%
E =
2.Easy
QPDQ1​P1​Q2​P2​

When the price of a product rises by 20%, the quantity demanded falls by 10%. Find the price elasticity of demand E.

%ΔP = +20%%ΔQ = −10%
E =
3.Medium
QPD100€5.00110€4.50

When the price of a ticket changes from €5.00 to €4.50, weekly sales change from 100 to 110. Use the midpoint (arc) method to find the price elasticity of demand E.

P1 = €5.00P2 = €4.50Q1 = 100Q2 = 110
E =
4.Medium
QPD800€12.00590€14.00

When the price of a ticket changes from €12.00 to €14.00, weekly sales change from 800 to 590. Use the midpoint (arc) method to find the price elasticity of demand E.

P1 = €12.00P2 = €14.00Q1 = 800Q2 = 590
E =
5.Hard
QPDQ€35

The demand for a product is Q = 100 − 2P, with P in euros. Find the price elasticity of demand E at a price of €35.

Q = 100 − 2PP = €35
E =
6.Hard
QPDQ€12

The demand for a product is Q = 200 − 10P, with P in euros. Find the price elasticity of demand E at a price of €12.

Q = 200 − 10PP = €12
E =

Answer key

  1. 1. E = −0.6
  2. 2. E = −0.5
  3. 3. E = −0.9048
  4. 4. E = −1.964
  5. 5. E = −2.333
  6. 6. E = −1.5

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