The elasticity of demand is a measure of the responsiveness of the quantity demanded of a commodity to a change in its price. It is calculated using the following formula:

Elasticity of Demand = Percentage Change in Quantity Demanded / Percentage Change in Price

In this case, the quantity demanded increases from 20 units to 30 units when the price increases from \$4.00 to \$5.00. To determine the elasticity of demand, we need to calculate the percentage change in both the quantity demanded and the price.

1) Percentage Change in Quantity Demanded = (Final Quantity – Initial Quantity) / Initial Quantity * 100

• Percentage Change in Quantity Demanded = (30 – 20) / 20 * 100 = 50%

2) Percentage Change in Price = (Final Price – Initial Price) / Initial Price * 100

• Percentage Change in Price = (5 – 4) / 4 * 100 = 25%

Now, we can calculate the elasticity of demand:

Elasticity of Demand = 50% / 25% = 2.00

Based on this calculation, the elasticity of demand for the commodity in question is 2.00.

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